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Contract Formation, Offer + Acceptance = Mutual Assent, Mutual Assent +…
Contract Formation
Defenses to Formation
Statute of Frauds
MYLEGS
Marriage
Contracts performed greater than 1 year
Land
Executor
Goods sold greater than $500
Surityships
Ambiguity
Mistake
Mutual
Unitalteral
Illegality
Incapacity
Unconsciounable
Fraud
Duress
Acceptance
Common Law
Mirror Image Rule
UCC Acceptance
Additional & different terms
Methods
Promise
Performance
Mailbox Rule
Effective at dispatch
Except for Firm Offers
LPA check this definition
Modes
Authorized or Reas. ????
Offer
Intent to be bound
Communicated to offerree
Agreed upon terms
Termination
Lapse of time
Rejection (includes counteroffer)
Revocation
Operation of Law
Consideration
Benefit or Detriment
Bargainged-for Exchange
Adequacy irrelevant
No. Past consideration
Pre-existing duty
Illusory promises
Promissory Estoppel
Consideration Substitute
Offer + Acceptance = Mutual Assent
Mutual Assent + Consideration = Contract