2007.12.09 One Sheet - Types of Ks a 2nd R 63 a Bi agree-Reliance 2nd R 87(2 b General Rules b Uni perf-2nd R 45 i Accpt when it's sent

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a) Bi-@ agree- Reliance - 2nd R 87 (2) b) Uni-@ perf- 2nd R 45 c) "Quasi-K"—kind of rest. d) Output, Req’ments, Exclusive Dealings 2-306 e) Option K/Firm O/Req’ , 2R 25, 2- 205 i) Think EAL v. Gulf CONSIDERATION Bargain theory— a) 2nd R 71,74,75,79,81 Promises a) 2 nd R 75, 79 b) UCC 2-306,2- 103,1-201 c) Gratuitous, Illusory, Cond’l, Executory Reliance a) 2 nd R 90 b) Promissory / estoppel i) Ok for Fam,l& grait.bailmts,cha rity Bargaining Process a) UCC, 2-205 b) 2 nd R 45, 87 Pre-Contractual Liability a) 2 nd R45,87(2),90 b) UCC 2-104,2- 313,314,315,316 c) GR: O’or can revoke before acc. i) Rel not protected. d) Battle of Forms e) Waiver of liability f) Drennan v. Star (‘58)no Rel to K g) Hoffman v. Red Owl(‘65)extreme rel. i) GR: Rel b4 K not protected h) Unilateral Ks i) No Rel until K. Or ways. UJ Enrich ii) Good faith not req’d in negotiations OFFER ??? Offer—Definition 2 nd R 24 a) Language-invitation for negotiation? b) Directed at multiple people? c) Relationship of parties i) past dealings, ii) common practices iii) trade usage d) GR not an offer- ads, price quotes i) Exception when clear, definite, no room for neg. Offer-Intent a) 2 nd R 71 b) UCC 2-204,2- 206 OFFER TERMINATION??? O terminated? a) Lapse of time?, b) Rejection?(MIR- change terms), 2 nd R 38 UCC 2-207 materially alter?b c) Death? except irrervoc’bleO 2 nd R48 d) Revocation? 2 nd R Dir-42,Indir-43 i) GR: O'or can revoke before A ii) direct-must be rec’d, need not say “revoke” iii) indirect-need definite action, reliable info e) Exceptions/Irrevocab le Offer: i) Consideration (1) O'or waives revoking privileges ii) O'ee buys time to decide (1) Subsidiary promise i) Option K/Firm O/ Reliance: 2 nd R 25 , UCC 2-205 "Mailbox Rule " —Prot. O’ee so can rely. a) 2 nd R 63 b) General Rules i) Accpt: when it's sent. ii) Rev: on O’ee receipt 2 nd R 42 iii) Rej: onO’or receipt 2 nd R 40 c) Overtaking rej—rej after acc. Long as rej 1 st 2 nd R 63 i) No when: O says no, opt.K, P, electric Communication ACCEPTANCE??? a) 2 nd R 50 b) UCC 2-205, 2-206 GR: Silence not acceptance. c) Notice. i) Uni-perf ok, no notice 2 nd R 32, 62 ii) Bi—must notice 2 nd R 54 "Mirror Image Rule" & UCC 2- 207 e) CL—acc must be same terms i) Or counterO,bad for buyer, held f) Exceptions (p. 187): i) “implied term” from offer. ii) Language wishful iii) Agreement=carr ied out. g) 2-207 see also 2- 310 i) 2-207 (1) K? O/A? Same Q & $ unless express conditio nal. In writ? Confirm ation not enough . ii) Yes: 2- 207 (2): add’tl term? (1) B/ w me rch ant s ter ms int o K unl ess O exp res s limi ts A to ter ms of O, or ma teri ally alt er, or O’o r obj ect s (2) Diff ere nt ter ms two opt ion s: (a) KO rul e, sok like s kee ps o (b) Best shot/La st shot=M IR iii) No: 2- 207(3) : Conduc t made K? (1)
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This note was uploaded on 08/28/2008 for the course LAW 421 taught by Professor Sokolow during the Spring '07 term at University of Texas at Austin.

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2007.12.09 One Sheet - Types of Ks a 2nd R 63 a Bi agree-Reliance 2nd R 87(2 b General Rules b Uni perf-2nd R 45 i Accpt when it's sent

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