Contracts Skeletal Outline - I What is a Contract a 2 key...

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I. What is a Contract a. 2 key elements of a Contract b. Implied/Express Contract c. Unilateral/Bilateral Contract II. Objective Theory III. Offer-Nature of the Offer a. Invitation to deal b. Offer+Acceptance=Mutual Assent c. Offer + Consideration=Enforceable Contract d. Restatement 24: Offer Denied e. Restatement 26: Preliminary Negotiations  f. Rewards g. Advertisement are NoT Offers h. Offers made in Jest i. Price Quote IV. Offer-Destroying the Offer a. Restatement 36: Methods of Termination of the Power of Acceptance b. Revocation  a. Restatement 42: Revocation by Communication from Offeror  Received by Offeree b. Restatment 43: Indirect Communication of Revocation  c. Rejection a. Restatement 38: Rejection d. Lapse e. Death or Incompetence of Offeror a. Restatement 48: Death of Incapacity of Offeror or Offeree V. Offer-Preserving the Offer a. Option Contract b. Restatement 25 c. Termination of Irrevocable Offers d. Consideration e. Conclusive Presumption  f. Rebuttable Presumption g. Firm Offer U.C.C. 2-205-only applies to the sale of goods
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VI. Acceptance a. Offeree voluntarily exercises power conferred upon him by the offeror to  create a contract b. Requirements c. Restatement 30: Form of Acceptance Invited d. Restatement 60: Acceptance of Offer Which states place, Time, or Manner of  Acceptance  VII. Acceptance-Control over the manner of acceptance a. Restatement 50 (1) Acceptance of Offer defined; Acceptance by Performance;  Acceptance by promise b. Invitation of promise or Performance
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Contracts Skeletal Outline - I What is a Contract a 2 key...

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