Transcription of Contracts)Outline)
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Contracts)Outline)
Contracts Outline Sources of Law: Common Law Restatement of Contracts Uniform Commercial Code (UCC) o Governs sale of goods, goods = any movable item Convention on Sale of International Goods (CISG) I. Contract Basics: Considerati Offer Acceptance Contract on a. Offer i. Outward manifestation: oral, written or via conduct; and signal that acceptance will conclude the deal ii. Available for a reasonable amount of time iii. Person who gives offer can revoke it at any time b. Acceptance i. Expression; or ii. Silence; or 1. Custom in long relationships iii. Action. iv. Cannot be revoked 1. Mailbox Rule = acceptance by mail creates a contract at the moment of dispatch c. Consideration i. = agreement needs to be an exchange, you need both arrows ii. needs to be credible that they were bargained for and given in exchange iii. and it is a detriment iv.
1. UCC§2Q715(2)(a)!–!expressionofHadley!! RULES:! 2. Arising!naturally! a. General!damages!!=!what!you!normally!get!frombreach!of!K,!diff!$! 3. Reasonablyforeseeable!
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