c - 30 MC questions | 75 min Short Essay | you pick of 2 |...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
30 MC questions | 75 min Short Essay | you pick of 2 | 3,500 characters | 30 min Long Essay | 7,000 characters | 60 min Common Law CISG UCC Where the UCC is silent on a term, common law applies A Bargain in which there is manifestation of mutual assent to exchange (1) This Convention applies to contracts of sale of goods between parties whose places of business are in different States: (a) when the States are Contracting States; or (b) when the rules of private international law lead to the application of the law of a Contracting State. Sale of goods between parties made in good faith Honesty in fact Observance of reasonable commercial dealings Offer Manifestation of willingness to enter into bargain, so as to justify another person in understanding that his assent can conclude the bargain Communicated to another by offeror Indicate the desire to enter into a contract on specified terms Invites acceptance, to as many or as few people as offeror desires understanding that acceptance is binding Types of Offers made in jest Not valid when offeree knows or should know in jest Sale of Goods Goods Consumer goods; not goods the seller knows or should know are used for personal, household and family purposes. Sale of Goods Predominate Purpose Test (1) Language of K (2)Nature of businesses (3) intrinsic worth of materials Goods Movable and tangibles that are identified at the time of contract. Including: unborn young animals and crops growing Sale Passing of the title from seller to buyer for an agreed term Preliminary Negotiations Solicitation of bid, “at least $” Interpretation of Agreement | Totality of the Circumstances| Subjective Perceived intent, based on parties conduct Interpretation of the Terms Course of Performance Parties past terms in particular types of K can create terms in old K Course of Dealings How parties have acted in past K Objective Perceived intent by parties conduct Usage of Trades Practices of an industry as to justify expectation that it will exist in present K Advertisements No words of commitment unless particular number of goods or “first come, first serve” Offer Sufficiently Definite Constitutes an offer if it is sufficiently definite and indicates the intention of the offeror to be bound in case of acceptance. A proposal is sufficiently definite if it indicates the goods and expressly or implicitly fixes or makes provision for determining the quantity and the price (goods, quantity, quality place & time of delivery and price) Offer Expression that a reasonable person would interpret as willingness to enter into a bargain with intent to be bound and quantity term. Irrevocable Offers Option Contracts (i) Monetary consideration to keep K open, must be paid. Irrevocable
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

c - 30 MC questions | 75 min Short Essay | you pick of 2 |...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online