Please enable JavaScript.
Coggle requires JavaScript to display documents.
Valid Contract: Issue Spotting Flowchart - Coggle Diagram
Valid Contract: Issue Spotting Flowchart
Before asking anything else, ask yourself this:
Common Law or UCC?
BACKGROUND: FORMATION
Offer + Acceptance = Mutual Assent
Mutual Assent + Consideration = Valid Contract
STEP ONE: WAS THERE AN OFFER?
Requirments include:
1) intent to be
(1st)
Was there an Offer?
Requirement Include:
(1) Intent to Be Bound ...
(2) To Definite Terms ... &
(3) Commitment To Offeree
OR
Was there termination by ...
(1) Lapse of Time (?)
Period to accept has run its course, no open offer.
(2) Revocation (?)
The offeror takes back his offer.
(3) Rejection (*includes
The offeree rejects the terms/offer of K, no meeting of the minds.
COUNTEROFFERS (?)
Special note: Counteroffers occur where a party accepts with different or additional terms.
--- Under CL, no K if different.
--- Under UCC, §2-207.
(4) Operation of Law (?)
A K will be created by operation of law, however, regardless of a party's subjective intent.