Please enable JavaScript.
Coggle requires JavaScript to display documents.
Contracts - Coggle Diagram
Contracts
Formation? Step 2
-
Acceptance
Before revocation, rejection, or counteroffer = valid acceptance
-
Counteroffer negates 1st offer, switches parties around
-
-
Mirror image rule: accepting but changing the
terms may/n't be, depends on UCC or CL
-
acceptance under UCC
if critical terms are different, knockout rule
cancels both conflicting provisions
Consideration (rare, mostly MBE)
-
No Defenses, such as:
-
Statute of Frauds (VERY COMMON FOR QUESTIONS),
requires a signed writing including the material terms of the K
-
-
-
-
-
-
-
-
-
-
-
Performance: 4
-
-
Breach
minor
must still perform, but get dmgs
-
UCC: buyer may reject some or all of product if it doesn't conform. Can't reject after accepting/failing to inspect, unless goods are so defective their value is substantially impaired
at CL, watch out for preexisting duty rule in modification questions
Remedies: 5
-
Under UCC
-
buyer's remedies include damages or specific performance. A key factor is if buyer has bought replacement goods
Equitable remedies
Specific performance
only if money would be inadequate relief, ie land/unique objects
-
-
-
-
-
-
Interpretation: Step 3
K construed as a whole, preference given to written provisions using the OG meanings of words, construed against the drafter if ambiguous
-
Parol evidence rule
whether the meaning of a document can be determined by the negotiations of parties prior to the written contract. 2 Questions
- What's the purpose of the evidence being intro'd
if purpose is to explain/interpret terms of a written K, it's admissible (may need to show ambiguity)
UCC uses usage of trade, course of dealing,
and course of performance to supp terms
- Does the evidence relate to a term/K that's integrated
-