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Contract

Contract

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Published by: suhaidamastor on Jul 30, 2010
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10/25/2012

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Exam Tips
Don’t fight the systemYou don’t have to know case names for the essay, but everything really IS on a curve, and if theessay has everything exactly right AND have the case names, memorize at least 10 or 15 casesout of the classIf you can’t remember then do something like “hairy hand” caseWhat they mean and how they applyRestatement or UCC numbers, don’t worry about knowing2-207 will definitely know (and hate)will need to know 2-204, 2-206, 2-207: § 2-204 and § 2-206 deal with formation issues.If a contract is formed, § 2-207 is used to determine what the terms of the contract are.Learning and knowing the stuff is only 20%In 2:45 you must apply it to a complex fact pattern you’ve never seen in your lifeAlmost none of the questions have a definite answer Probably an offer, probably not an offer.Call of the question determines whether you need to talk about both side.Is this an offer = both sidesYou represent Ann, is this an offer = 1 sidePick up points on exam by abbreviatingAlso outline, Frank takes 5 minutes doing “conflict pairing”Practice and do the same way ever single timeDo same way every time….laziness if you don’t.Contracts go in chron order, do a timelineAlways put UCC and Merchant at the top of the essayDefine what a contract is: O+A+CCoQ is there an offer?Supra – already talked about (offer as defined supra, contract as defined supra) Ask prof if youcan do it.Infra – haven’t talked about yet.Answer most essays with probably not a definite. Conclusion not where you get points, it’s howyou get to it.Def 2 pts Rule2 Conc.10 pts AnalysisEven if you blow the rest, analysis is 2/3 of the pointsIf you have an exam question on the firm merchant offer – 4 months? NO 3 is all allowed.ON EXAM, CAN’T SAY WIDGETS ARE GOODS, GOT TO SAY WHY. LEARN THISDEFINITION.EXAM – definitions, fact circumstances 4 choices this is a merchant b/c, this is not a merchant b/cKnow in context of essay common law v. UCC.analyze all elements of offer and acceptance firstONLY NEED TO KNOW A FEW GAP FILLERS FOR EXAMIGNORE REVISION TO PROPOSED UCC 2-207 probably WON’T BE ON MIDTERM? EXAM? 2-305
20 department multiple choice. More student friendly on final.At Professor’s judgment can add more multiple choiceScott will have short answer AND essayUse highlighter or underline words
 
Title everything New law, new paragraph (from LEWS)Label your essayUse outline as a crutch and start working on essays from practice examsGood for editing the outlineGive yourself more time (55minutes instead of 45)Para or two on consideration in exam essayDon’t waste time restating the facts UNLESS they follow the word “because”Discipline yourself to do one area of law at a time in each paragraph.Don’t outline dump definitions up front and then apply facts to them afterward.Define offer, then deal with it. Define acceptance and then deal with it.Common law accord and satisfactionUCC accord and satisfaction (by check) Has to be a good faith disputeDifference between accord and satisfaction and substitute-K ON EXAM: when you have a question dealing with C, if you cannot make case for tradition C, look for substitute (PE or MO) before moving on. Write down whether or not you analyzed and rejected C substitutes otherwise he doesn’t know if you eventhought about them.=====================Rick Frank’s Practice Essay scoring sheet.UCC applies: goods fountain drinks are movable goodsDefine Merchant. In this case both are merchants.Signed , writing, goods, from Merchant 2-205Reasonable time (3 months max)Offeror is maste of OUCC applyFirm offer 2-205MerchantSigned writingAssurance for time, reasonable time not to exceed 3 months29
th
telegram revoke offer Offer irrevocable until Oct 1Sept 29t letter was additional terms per 2-207Change in dickered term: NoTriggered Proviso language NoAcceptance per 2-207(2)# of exceptionsOctober and Nov. deliveries do not violate either exception therefore become part of thecontract.2-207 analysis for 2-207(3) MARTIN-SCOTT ONLY in the alternatives (DON’T DOFOR KEVIN SCOTT)Read comments for 2-207 about material alteration=========================EXAM TIP: If you’re asked how to analyze fact situation. Know difference betweenRestatement 90 1
st
and 2
nd
restatement and the differences. See the slide from week 9 for 
 
more details. IN BOTH CASES the response must be reasonable. LAST TERM heasked what elements must be proved to show PE. GET ALL 5.EXAM TIP: On an exam when you are analyzing a case, you look first for traditionalconsideration, then you look for promissory estoppel, if not then maybe moral obligationunder the right fact circumstances.EXAM TIP: Cite UCC 2-205, 2-207, and 3-311 when they specifically applyEXAM: good faith, dispute, 2 parts nothing extinguished until satisfaction occurs. If nogood faith dispute, payment on account and you can still go after remainder.Accord & Satisfaction R2nd 281 versus substitute K (BIG TIME ESSAY QUESTION.KEY IS THE INTENT OF THE PARTIES. Was their intent to get rid of old K and forma new one). If you just have accord & satisfaction and you renege on that too, b/c accordand satisfaction you can sue for either original amount $1000 or $700 accord amountSubstitute K. now I renege, now I can only sue for $700. Have to look at the intent of  parties. Subclause of an essay question.
DEFINITIONS
Stare decisis
: one decision is precedent for subsequent ones, building up a body of common lawTechnically the only decisions that bind a given court are those from the highest court in that particular jurisdiction.
 Dica/dictum
: differ from holding. Dicta are opinions without legal authority. Holding has theauthority of law.
 Equitable estoppel 
: what you did in the past (statements or actions) you are barred from changingin the future if another person relied on the original position.
 Breach
: binding agreement not honored by one or more of the parties by non-performance OR interference with other parties performance.
 Amicus/ae Curiae
: A person not party to the lawsuit who petitions the court or is requested by thecourt to file a brief in the action because that person has a strong interest in the subject matter.
Shrinkwarp license
: becomes effective as soon as the customer tears the wrapping from the package.
 Injunction
: A court order commanding or preventing an action.
 Arbitrage
: Attempting to profit by exploiting price differences of identical or similar assets, ondifferent markets or in different forms.
Mortgage
: a lien against property that is granted to secure an obligation such as a debt.
 Lein
: a legal right or interest that a creditor has in another’s property.
 Bond 
: long term interest bearing debt instrument…usually secured by a lien on the issuers property.

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