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CONTRACTS - Coggle Diagram
CONTRACTS
- Is There a Valid Contract?
- What are the Terms of the Contract?
- Has Performance Being Excused or Discharged?
- Have the Terms of the Contract Being Breached?
- If Breached, What Remedies are Available?
- Any Third-Parties Have Rights/Responsibilities Under Contract?
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Offer
Is there a valid offer?
- Manifestation of a present intent to contract demonstrated by a promise, undertaking, or commitment;
- Communicated to an identified offeree; and
- Definite and certain terms
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Acceptance
Unequivocal acceptance
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UCC - an acceptance that adds terms to the offer is valid. B/w merchants, the additional terms become part of K unless they materially alter K, the offeror objects, or the offer is
limited to its terms (“battle of the forms”)
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Consideration
- Bargained-for exchange (not a gift), and
- Detriment to promisee or legal benefit to promisor (courts focus on detriment)
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