Restatement and UCC

Restatement and UCC - Restatements and the U.C.C....

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

View Full Document Right Arrow Icon
Restatements and the U.C.C. Restatement §90 Promissory Estoppel – a promise which the promisor should reasonably expect to induce action or forbearance of a definite and substantial character on the part of the promisee and which does induce such action or forbearance is binding if injustice can be avoided only by enforcement of the promise. §45 – §35 – §59 Mirror Image Rule – a qualified or conditional acceptance is a counter-offer. §87(1)(a) Option Contract : “an offer is binding as an option contract if it is in writing and signed by the offeror, recites a purported consideration for the making of the offer , and proposes an exchange on fair terms within a reasonable time.” This takes a different approach to the majority rule – payment doesn’t have to be made, it just has to be recited. §33 – §27 – manifestations of assent that are in themselves sufficient to conclude a contract will
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 / 2

Restatement and UCC - Restatements and the U.C.C....

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