LEB exam 2 cheat sheet - 3 Limitations on Quasi 1 Cannot be invoked by one who has granted a benefit unnecessarily or as a result of negligence or other

LEB exam 2 cheat sheet - 3 Limitations on Quasi 1 Cannot be...

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3 Limitations on Quasi: 1) Cannot be invoked by one who has granted a benefit unnecessarily or as a result of negligence or other misconduct. 2) Remedies are often granted in contractual contexts. Quasies are fiction, but are treated like real contracts when need be. 3) A plaintiff generally will not be allowed quasi contractual recovery from one person if he originally looked to another for compensation. Bilateral: a promise for a promise. An agreement on both parties unilateral: phased so they can be accepted only by the performance of a particular act Reasonable definiteness: the terms of An agreement have to be definite enough that a court can determine whether both parties lived up to their promises, in an event that a question of breach of contract arises. (identify: parties, subject matter, consideration, time for performance An offer has no effect until it reaches the offeree at the direction of the offeror Termination of an Offer: Revocation: effective to terminate the offer only when actually received. Option K: An option the oferee does give The offeror some consideration (usually some money) to keep the offer open. Rejection of Counteroffer. A rejection occurs when the offeree notifies the offeror that he or she does not intend to accept. It takes effect only when it has been communicated to the offeror. Lapse of Time: will terminate after a lapse of time. But you never want to have a never ending amount of time. Especially in real estate. You will need to have a contract ending date. ACCEPTANCE: Must demonstrate a definite present intent to accept Must be unconditional and not add any terms that are additional Must be legally communicated to the offeror “Battle of the Forms” UCC 2-207: Ks between merchants where different forms may contain different or conflicting provisions—K will be formed if it is clear the parties intended to contract. Additional terms will be added unless: original offer expressly requires acceptance of its terms; the new terms materially alter the K, or the offeror objects to the new terms within a reasonable time. Different terms: if a term in the acceptance conflicts with a term in the offer, the term does not become part of the K. a). Must Manifest Assent and be Unequivocal: b). Silence is not an acceptance, unless there is an established course of conduct.
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Communication of Acceptance to Offeror: These are effective only upon receipt: Offer, Revocation, rejection An acceptance will always be effective upon actual receipt also, but it can also be effective when sent
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  • Spring '08
  • Baker
  • Public Policy, quasi contractual recovery, definite present intent

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