1. Contracts: 2 sets of contract rules to learn
a. common law contract rules: apply to contracts that are not a sale of goods ( real estate, insurance, employment, professional services)
b. Article Two of the Uniform Commercial Code (UCC): governs transactions involving the sale of goods ( tangible personal property )
c. Contract: set of promises where court holds each party accountable; if a contract is not performed, one of the parties may be held in breach(Î¥·´) of contract
2. Oral vs. Written contact
a. equally enforceable( ¿ÉʵʩµÄ)
b. Oral is difficult to prove; written has more proof
3. Parties:
a. promisor/offeror: making promise
b. promise/offeree: accepting promise
Requirements
1. offer: may be either oral or written (or sometimes by actions);
must be communicated by offeror;
definite(Ã÷È·µÄ), offeror must show intent;
same for promise;
communicated: let offeree know that offer has been made;
definite: must be clear enough that offer is made, must have all terms;
UCC will use GAP fillers, will fill in anything that is out except quantity(UCC-only applies commerce; sale of goods; sale of services-UCC does not apply because it missing terms than indefinite offer)
Intent: promisor has to have intent to do this promise
a. Illusory(ʹÈËÎó½âµÄ£¬ÆÛƵÄ) promises: A promise that pledges nothing, because it is vague (Ä£ºýµÄ) or because the promisor can choose whether or not to honor it. Such promises are not legally binding. For example, if you get a new job and promise to work ...