gi2 UCC Changes count no matter the as long as both agree

Gi2 ucc changes count no matter the as long as both

This preview shows page 10 - 13 out of 16 pages.

g.i.2. UCC: Changes count no matter the benefits/consideration as long as both agree. No new consideration matters. g.ii. Accord and Satisfaction g.ii.1. A trick for traditional paper checks written towards a disputable debt. g.ii.2. The check says, “payed in full”—that’s a accord g.ii.2.a. If you deposit this or cash it, that’s a satisfaction g.ii.2.b. If you do this, you lost your right to sue because of the payed in full if you don’t think you got enough. g.ii.2.c. You have to first pay more than what oyu clearly owe for this trick to work. g.iii. Webb v. Mcgowan g.iii.1. Webb pushing block of wood and pushed it almost all the way and he noticed at the very last second was Mcgowan was standing underneath. And he said Id split my pension money 50/50. And he did for a while split it 50/50. And then eventually he stopped giving it to him and Webb
Image of page 10
sued over it. (Timing Rule) Bc act happened first he said it was a gratuitous promise. g.iii.1.a. Quasi-contract g.iii.1.a.i. Judges sometimes have the ability to stretch the rule. g.iii.1.a.ii. They can overlook the fact and ignore the consideration for justice to be done. g.iii.1.a.iii. Ex: charitable pledges 4. Capacity a. Categories of people a.i.1. Minors(under 18) a.i.1.a. If kid makes contract with adult, most likely kid lacks the capacity to make a contract. a.i.1.b. Ex: target kid bought a bunch of dvds and now is trying to give them back for money. Both 10yr old and 17yr old are treated the same. a.i.1.b.i. Remaining goods rule: He is entitled to full 1000 as long as hes under 18. a.i.1.b.ii. Status Quo Rule: Allows adults to break even when dealing with minors. Ex: 1000 at bestbuy 800 was cost and 200 was profit. She would only get the 200 profit to break even with the transaction. a.i.1.b.ii.1. This would happen if minor misrepresents their age. a.i.1.b.ii.2. Food/clothing/medical-care a.i.2. People who are mentally incompetent a.i.2.a. evaluated with thinking normally, then remaining goods rule would apply. a.i.3. Intoxicated people (but tougher to back out with this) a.i.3.a. Nature of agreement test. Atleast twice as drunk as .08 or even more that you gotta convince a court that you didn’t understand the contract, the nature of what you were agreeing too. 5. Assent a. If someone tells a lie or a threat, that’s an assent issue. b. Like I didn’t wanna get beaten up, it was by force b.i. 4 basic b.i.1. Fraud situation, someone lying to you b.i.2. Duress b.i.3. Certain types of mistakes b.i.4. Doctrine called Undo Influence, taking emotional advantage of someone like an elderly with their will 6. Legal Purpose
Image of page 11
a. So if a judge decides that a contract is bad for public policy they can declare new kinds of things to lack legal purpose. Its not necessarily illegal, but makes for bad public policy.
Image of page 12
Image of page 13

You've reached the end of your free preview.

Want to read all 16 pages?

  • Spring '08
  • Baker
  • the deal

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes