Card Set Information

2010-11-26 18:31:42
Contracts Flash

Show Answers:

Home > Flashcards > Print Preview

The flashcards below were created by user scott.trebat on FreezingBlue Flashcards. What would you like to do?

  1. A Revocation Must Be:
    Before acceptance, and communicated
  2. 2-201(a) Writing Requirements
    • Quantity of the Whole
    • Signed by the person invoking the SoF
    • Sufficient to show a contract for sale has been made between the parties

    Note: Not insufficient because it omits or incorrectly states a term agreed upon
  3. Contracts with in SoF
    • Marriage
    • Year
    • Land
    • Executor
    • Goods (2-201)
    • Suretyship
    • Statute
  4. 2-201(2)
    • Between Merchants
    • Written Confirmation within a reasonable time
    • Signed by sender
    • Receiver has reason to know of its contents and must receive
    • To object, written objection must be sent within 10 days of being received
  5. 2-201(3)
    • Exceptions to 2-201
    • - Specially Manufactured Goods: must be in production
    • - Admits in his pleading
    • -Part performance -goods for which: payment has been made and accepted OR received and accepted
  6. 2-305(1)
    • The price is a reasonable price at the time for delivery if:
    • (a) nothing is said as to price; OR
    • (b) the price is left to be agreed by the parties and they fail to agree; OR
    • (c) the price is to be fixed in terms of some agreed market or other standard
  7. 2-305(2)
    A price to be fixed by the seller or by the buyer means a price for him to fix in good faith
  8. 2-305(3)
    Price left to be fixed otherwise than by agreement of the parties fails to be fixed through fault of one party the other may at his option treat the contract as cancelled or himself fix a reasonable
  9. Merger Clause
    A provision within a contract that states the writing is a final and complete writting

    Traditioan view it is conclusive

    Modern: rebutable
  10. Parole evidence rule does not apply to:
    • 1. evidence offered to Explain the meaning of the agreement
    • 2. oral or written agreements made after the execution of the writing
    • 3.evidence offered to show that effectiveness of the agreement was subject to an oral condition precedent
    • 4. evidence to prove the agreement is invalid for any reason such as (fraud, duress, undue influence, incapacity, mistake or illegality)
    • 5. evidence that is offered to establish a right to an "equitable" remedy, such as "reformation" of the contract
    • 6. evidence introduced to establish a "collateral" agreement between the parties
  11. Complete Integration
    a writing that is intended to be a final and exclusive expression of the agreement of the parties
  12. Partial integration
    • a writing that is intended to be final but not complete because it deals with some but not all aspects of a transaction between the parties.
    • <Writing on its face appears to be informal or incomplete>
  13. How do you determine integration:
    Based on view adopted:

    -Four Corners Rule: based on the four corners should extrinsic evidence be admitted

    -Restatements: actual intent of the parties: consider evidence of all the facts and circumstances surrounding the execution of the contracts, as well as the writing in uncovering that intent <hear the evidence and then decide if it should be integrated or not>
  14. Is a merger clause used in determining integration or not?
    question of integration depends on all relevant evidence; weight given to merger clause will depend on facts and circumstances of each particular case.

    Note: will depend on bargaining power of each party
  15. Plain meaning
    Relying on the facial completeness of a written contract to conclude that it is fully integrated

What would you like to do?

Home > Flashcards > Print Preview