Review for Contracts Midterm

Review for Contracts Midterm - Review for the Midterm First...

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Review for the Midterm First look to see if article 2 applies (is it a good, is it a good) Then determine if there is a merchant (S, who owns a hardware store) Whether you have an offer is judged by objective standards o Definite- can use gap fillers to fix the indefiniteness o Commitment o Communicated Special offer situation: o Auction o Advertisements: too many offerees and not enough products o Grocery Store: it is not an offer until you go to the checkout centre. o Social Statements b/w family: not offers o Professional Opinions: not contracts unless they step over the line. o Rewards: Both calling for unilateral contract Governmental- you don’t have to know about the reward Private- you have to know Unilateral and Bilateral Contract: Unilateral: calls for an act, if you PP, binds the offeror Bilateral: calls for a promise Doubtful: calls for either act or promise, if you PP, binds the offeror and the offeree Offer lapse the time stated: If no time is stated, reasonable time
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Review for Contracts Midterm - Review for the Midterm First...

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