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Mind Map
by
Jana Slavina
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more than 1 year ago
Bar Exam CONTRACTS (MUTUAL ASSENT - OFFER AND ACCEPTANCE) Mind Map on OFFER: DEFINITENESS OF SUBJECT MATTER, created by Jana Slavina on 26/01/2015.
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contract
offer
contracts
mutual assent - offer and acceptance
bar exam
Created by
Jana Slavina
about 10 years ago
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1917866
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2016-02-19T07:37:04Z
OFFER: DEFINITENESS OF SUBJECT
MATTER
REQUIREMENTS FOR SPECIFIC TYPES OF CONTRACTS
REAL ESTATE TRANSACTIONS
LAND must be identified
with some particularity,
but deed description is
not required ("my house
in Danbury" is sufficient)
PRICE TERMS -most
courts will not supply
a missing price
SALE OF GOODS
QUANTITY must be certain or
capable of being made certain
"REQUIREMENT" CONTRACT -
buyer promises to buy all the
goods that buyer requires, and
seller agrees.
"OUTPUT" CONTRACT -
seller promises to sell all
the goods it produces,
and buyer agrees to buy
that amount
GOOD FAITH REQu/iREMENT - there may
not be a tender of remand for a quantity
unreasonably disproportionate to (1)
any stated estimate; or (2) normal or
comparable prior output or
requirements.
SERVICES
NATURE OF WORK
MISSING TERMS
Majority of jurisdictions and
Art 2 hold that court may
supply reasonable missing
terms
No Price is ok
unless sale of
land
For sale of goods (Art
2) - price will be
reasonable price at
the time of delivery
VAGUE TERMS will not be
enforced, as the contract will
be to vague to endorse, but
uncertainty may be cured by
performance that clarifies the
vague term, or by acceptance
of full performance
TERMS TO BE AGREED UPON LATER - OK, as long as not
material terms, then the offer is considered TOO UNCERTAIN
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1917866
mind_map
2016-02-19T07:37:04Z
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