contracts outline (whole year)

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Formation

Contract Analysis: See analysis fowchart.

Before you analyze formation ask yourself the following questions.

o What type of transaction is occurring? If it is a goo than !CC is in"oke

an it may i#er from the common law. $ee !CC %&'&() *!nless isplace

+y the particular pro"isions of this Act, the principles of law an equity-apply.

Ask yourself if the o#er is in writing, if it is not, then statute of Fraus may +e

in"oke.o $tatute of Fraus: a writing is require for

arriage contracts

Contracts that take longer than a year

$ale or transfer of lan

Contract +y an e/ecutor to pay a e+t of an estate with their own

money Anything that costs 01(( or more

Contracts where one party acts as a surety for another party.

Chapter 2: Formation $ection &: What is a Contract?

o $ee 3e 2 %& *A contract is a promise or a set of promises for the +reach

of which the law gi"es a remey, or the performance of which the law insome way recognizes as a uty.-

Cases:

$tein+erg ". Chicago' applicant sues school for +reach of

contract for failing to uphol their amission stanarsstate on promotional material put out +y the school. 4hecourt hel that there was a contract +ecause there was ano#er5the +ulleting6, acceptance 5pro"en through conuct6,an consieration 5application fees6.

$ection 2: anifestation of assent an the o+7ecti"e theory of contracts.

o 8ef: $ee 3e %&9 *anifestation of mutual assent to an e/change requiresthat each party either make a promise or +egin or rener a performance.-

o

Cases

ucy ". ;ehmer' utual assent is etermine +y the outwar

manifestations of +eha"ior. In this case ;ehmer was forceto sell his property +ecause a reasona+le person coulconclue that he intene to go through the sale, an hissecret unisclose intent i not a#ect the formation of acontract.

eonar ".


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Anersen ". FC>A' A letter of intents oes not equal an

o#er, it is a preliminary negotiation. If there are specicpro"isions within an agreement that woul pre"entacceptance +y oral contract, than a signe writtenagreement is require to form a contract. $ee 3e 2 %2@ *Amanifestation of willingness to enter into a +argain is not an

o#er if the person to whom it is aresse knows or hasreason to know that the person making it oes not inten toconclue a +argain until he has mae a furthermanifestation of assent.-

$ection ) : >#er

o In"itations to Assent' for a contract to form their must +e an in"itation for

the o#eree to accept an o#er. $ee 3e 2 %2@ *A manifestation ofwillingness to enter into a +argain is not an o#er if the person to whom it isaresse knows or has reason to know that the person making it oes notinten to conclue a +argain until he has mae a further manifestation ofassent.-

o

Cases

onergan ". $colnick' Form letters are generally not o#ers

+ecause there is no intent to enter into a +argain, they aremerely o#ers to make an o#er, like an a. In this case ane/change of form letters oes not equal an o#er to purchaselan +ecause the o#eror ne"er ha any intention of +eing+oun an it was clear to all parties that no such intentioncoul +e inferre through conuct or wors.

Craft ". ler' As as a rule of thum+ o not rise to the le"el

of a manifestation of assent. 4hey are merely o#ers to makean o#er. 4here are some pu+lic policy reasons for this, rst ifas were o#ers than a merchant coul open themsel"es tounlimite lia+ility.

efkowitz ". reat inneapolis $urplus $tore' Clear an8enite 4erms ' $ee 3e %)) * an o#er is "ali if the termsare clear an enite lea"ing nothing open for negotiationso that a court can etermine if a +reach has occurre anfashion a remey for the +reach.- In efkowitz theerchants as were specic enough to constitute an o#erthat was accepte when efkowitz appeare at the store toaccept. DD EoteDD $ee Arnol ".


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5)6 4he fact that one or more terms of a propose +argain are left

open or uncertain may show that a manifestation of intention is notintene to +e unerstoo as an o#er or as an acceptance.

o Cases

oer ". 3ock Islan Bank' 4he +anks agreement on a eal

constitute an o#er +ecause it was clear an enite in all of its

terms so that a court coul etermine if a +reach has occurre anfashion a remey for sai +reach. ucy ". Gero' In ucy an option to +uy aitional lan was enie

+ecause the o#er was not enite enough in its terms. In this casethe escription of which property that was to +e sol was "aguean left for future negotioations.

Fairmount lass ". Crunen'artin: 4he o#eror is the master of

their own o#er. 4hey can set the terms of acceptance. A price quotethat is specic in all of its etails an contains wors similar to *forimmeiate acceptance- generally are consiere an o#er.

$ection =: Acceptance

o Hnowlege of the >#er: For an o#er to +e "ali the o#eree has to ha"e

knowlege of the o#er.

Cases lower ". ewish War Jeterans' the court rule that a rewar

from a pri"ate party shoul +e treate like a pri"ate contractan that you nee to +e aware of the o#er for it to +eforme upon performance. In this case a person ga"einformation leaing to the arrest of a murerer withoutknowlege of the rewar, an when she trie to collect therewar after ning out a+out it she was enie.DDEoteDDgo"ernment rewars o not fall uner this rule an as amatter of policy are consiere statutory an must +e pai.

o f Acceptance In"ite

ink to Case Citations

5&6 An o#er may in"ite or require acceptance to +e mae +y an

aKrmati"e answer in wors, or +y performing or refraining fromperforming a specie act, or may empower the o#eree to make aselection of terms in his acceptance.

526 !nless otherwise inicate +y the language or the

circumstances, an o#er in"ites acceptance in any manner an +yany meium reasona+le in the circumstances.

o Cases

reen+erg ". $tewart' reen+erg accepte most of $tewarts o#er

+ut propose a couple of changes that were in her +est interest.4he court rule that there was no contract +ecause *an acceptancemust comply with the terms of the o#er, it must +e unequi"ocalan unconitional.-

3ule ". 4o+in' 4o+in claime that no contract was forme +ecause

3ule ae a pro"iso a+out attorneys fees. 4he court rule that*rights guarantee uner the law are not aitional terms.-/ample if I a to an o#er that I nee clear title, it is assume thatI want clear title to something that I +ought.
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o 4ermination of the f 4ime

ink to Case Citations

5&6 An o#ereeLs power of acceptance is terminate at the

time specie in the o#er, or, if no time is specie, at the

en of a reasona+le time. 526 What is a reasona+le time is a question of fact,

epening on all the circumstances e/isting when the o#eran attempte acceptance are mae.

5)6 !nless otherwise inicate +y the language or the

circumstances, an su+7ect to the rule state in % =M, ano#er sent +y mail is seasona+ly accepte if an acceptance ismaile at any time +efore minight on the ay on which theo#er is recei"e.

o Cases

Akers ". $e+erry' sta+lishe that an o#er in a face to face

con"ersation normally oes not last past the con"ersation. In this

case Akers o#ere his resignation to $e+erry in a con"ersation,$e+erry sai nothing so the o#er was re7ecte.

innesota insee >il ". Collier White' sta+lishe that a

reasona+le time is epenent upon the facts of the case an shoul+e etermine +y the court. In this case waiting for 2= hours toaccept an o#er of a prouct that ha e/treme market "olatility wasunreasona+le an therefore the o#er lapse.

o 8eath or Incapacitation' 3e %)@ *eath or incapacity remo"es the power of

acceptance.-o 8irect an Inirect 3e"ocation' enerally, o#ers without consieration,

may +e withrawn at any time prior to acceptance. Cases

8ickinson ". 8os: Inirect re"ocation. $ee 3e %=) *An

o#ereeLs power of acceptance is terminate when theo#eror takes enite action inconsistent with an intention toenter into the propose contract an the o#eree acquiresrelia+le information to that e#ect- In this case 8osactions inicate to 8ickinson that his o#er was withrawn.


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i"ingston ". "ans: a +uyerLs re7ection of a countero#er was

etermine to +e a counter o#er +ecause it specie theterms of the original o#er.

o !CC an the Battle of the forms: 4he !CCLs goal is to make entering into

an enforcing contracts easier, than it is uner the common law. 4he !CCallows a contract to +e forme e"en if +oth writings are not in perfect

agreement. 4his is to en the so calle +attle of the forms where eachparty sens out +oilerplate with specic pro"isions that o not necessarilymatch the forms of the other. $o long as +oth parties act as if a contracthas +een forme, than generally uner the !CC a contract has +eenforme. 4he !CC isplaces the common law last shot rule which states thelast writing is the contract. )


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Hlocek ". ateway: 3e"ersing Gill, the court applie the !CC

in fa"or of the plainti# arguing that gatewayLs actionscreate a contract a+sent the +ining ar+itration clausewhen they shippe him the computer, thus the only termsthat coul +e use to etermine a contract are the terms inwriting which +oth parties ha agree to at the time of the

transaction. C. Itoh ". oran International: the court rule that no

contract was forme, therefore they ha to etermine if acontract e/iste +y conuct. 4hey foun that it i, +ut suchcontract containe no pro"isions requiring +iningar+itration.

o ption Contract

5&6 An o#er is +ining as an option contract if it 5a6 is in writing an signe +y the o#eror, recites a

purporte consieration for the making of the o#er,an proposes an e/change on fair terms within areasona+le timeO or

5+6 is mae irre"oca+le +y statute.

526 An o#er which the o#eror shoul reasona+ly e/pect to

inuce action or for+earance of a su+stantial character onthe part of the o#eree +efore acceptance an which oesinuce such action or for+earance is +ining as anoption contract to the e/tent necessary to a"oi in7ustice.

!CC % 2'2(1. Firm >#ers.

An o#er +y amerchantto +uy or sell goosin a signe

recor that +y its terms gi"es assurance that it will +e helopen is not re"oca+le, for lack of consieration, uring thetime state or if no time is state for a reasona+le time, +utin no e"ent may such perio of irre"oca+ility e/cee threemonthsO +ut in no e"ent may the perio of irre"oca+ilitye/cee three months. Any such term of assurance in a formsupplie +y the o#eree must +e separately signe +y theo#eror.

Cases

Beall ". Beall: Cousin in law attempte to force the sale of a

lan pursuant to a written agreement that containe anoption clause. 4he court etermine that no option contracte/iste +ecause the e/tension of the last option lacke

consieration. ption Contract Create By


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526 4he o#erorLs uty of performance uner any

option contract so create is conitional oncompletion or tener of the in"ite performance inaccorance with the terms of the o#er

3agosta ". Wiler r.: in a unilateral contract 5acceptance

only possi+le +y specic performance6, partial performance

acts as an option uner 3 %M(:5&6 A promise which thepromisor shoul reasona+ly e/pect to inuce action orfor+earance on the part of the promisee or a thir personan which oes inuce such action or for+earance is +iningif in7ustice can +e a"oie only +y enforcement of thepromise. 4he remey grante for +reach may +e limite as

7ustice requires. 8efenant won +ecause he pro"e that


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8a"is ". aco+y: a +ilateral contract is forme at the

moment the promise were e/change an accepte.


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o 526 If an o#eree who accepts +y renering a

performance has reason to know that theo#eror has no aequate means of learning ofthe performance with reasona+le promptnessan certainty, the contractual uty of theo#eror is ischarge unless

5a6 the o#eree e/ercises reasona+leiligence to notify the o#eror ofacceptance, or

5+6 the o#eror learns of the

performance within a reasona+le time,or

5c6 the o#er inicates that notication

of acceptance is not require.o ail+o/ 3ule: For acceptance only, when negotiations for a contract are "ia

post, then an o#er is accepte the moment the acceptance is put in themail, not when recei"e. 4his rule oes not apply to re7ections,re"ocations, or other elements of the negotiation process, onlyacceptance. If you want to a"oi this rule than the written o#er must

contain a pro"ision prohi+iting the use of mail for acceptance. 4his ruleapplies to other forms of communication such as email. 4he ca"eat is thatthe form must +e as quick as the form of negotiations.

Cases

Aams ". insell: an o#er was accepte the moment it was

place in the mail, an not when it reache the o#eror. orrison ". 4hoelke: $ame as a+o"e, acceptance occurs

when the letter of acceptance is eposite in the mail+o/,an not upon receipt.

o Acceptance +y $ilence: $ilence is ne"er acceptance, +ut silence in

con7uction with conuct can +e acceptance. 3e %@M Pacceptance +y silence or e/ercise of ominionP

5&6 Where an o#eree fails to reply to an o#er, his silence an

inaction operate as an acceptance in the following casesonly:

5a6 Where an o#eree takes the +enet of o#ere

ser"ices with reasona+le opportunity to re7ect theman reason to know that they were o#ere with thee/pectation of compensation.

5+6 Where the o#eror has state or gi"en the o#eree

reason to unerstan that assent may +e manifeste+y silence or inaction, an the o#eree in remainingsilent an inacti"e intens to accept the o#er.

5c6 Where +ecause of pre"ious ealings or otherwise,

it is reasona+le that the o#eree shoul notify theo#eror if he oes not inten to accept.

526 An o#eree who oes any act inconsistent with theo#erorLs ownership of o#ere property is +oun inaccorance with the o#ere terms unless they aremanifestly unreasona+le. But if the act is wrongful asagainst the o#eror it is an acceptance only if ratie +y him.

Cases


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8ay ". Caton: Gomeowners silence regaring his neigh+or

+uiling a common wall was rule consent when hisneigh+or came after him for his half of the wall. If one sees a"alua+le ser"ice where the reasona+le man woul e/pectcompensation on his property, than he has a uty to tell theperson to stop, otherwise he accepts the agreement.

Go++s ". assasoit Whip Co: Conuct that inicatesacceptance, creates actual acceptance when the other partyis silent.

Consieration

o A promise,


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Garrington ". 4aylor: contraicts We++, an says moral

o+ligation that materially +enets another party isinsuKcient consieration. 8epens on which 7urisiction youare in.

o Aequacy: as a general rule the courts o not e"aluate the aequacy of

consieration, +ut not all agreements are consieration.

Cases Collins ". Collins: lo"e an a#ection is insuKcient

consieration for a contract. $chum ". Berg: 3efraining from e/ercising a legal right an

naming of a chil are +oth legally suKcient consieration. $chnell ". Eell: In cases of straight money transfer, nominal

consieration is insuKcient to create a contract. In this casethe < o#ere to pay 8 & cent for 02((, no consieration.

o Illusory


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5=6 In7ustice A+sent enforcement: the promise causes an un7ustice

which can only +e sol"e +y enforcement 4he application may +e limite to what is neee to pre"ent

in7ustice, full contract pri"ileges not granteo !se

Eormally use as a way to su+stitute for consieration

4ypically use when a contract has not +een create, an

the 8 mae a promise which < acte upon to his etriment.

o % M(. r For+earance

5&6 A promise which the promisor shoul reasona+ly e/pect to

inuce action or for+earance on the part of the promisee or a thirperson an which oes inuce such action or for+earance is +iningif in7ustice can +e a"oie only +y enforcement of the promise. 4heremey grante for +reach may +e limite as 7ustice requires.

526 A charita+le su+scription or a marriage settlement is

+ining uner $u+section 5&6 without proof that the promiseinuce action or for+earance.

o

Cases

3icketts ". $cothorn: ranaughter promise income to stopworking an she i. "en though no contract, heretrimental reliance on the promise was suKcient forpromisory estoppel claim.

Hatz. ". 8anny 8are inc.: Hatz quit his 7o+ an was gi"en a

pension. 8are trie to kill the pension, +ut the courts applieetrimental realiance an came up with a promissoryestoppel claim.

iwest nergy ". >rion Foo: promissory estoppel cannot

o"erturn statute of fraus.

Gy+ri 4ransactions: When there is a ou+t a+out whether the transaction is for a

goo or ser"ice you can apply two i#erent tests. When you use each test is etermine +ythe 7urisiction you are in, so for e/ams apply +oth analysis.


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o 526 3eliance 8amages: 4he goal is to put the non'+reaching party +ack into

a position they woul ha"e +een in if the contract ha not +een create.4his remey is use when the non'+reaching party cannot esta+lish theire/pectancy amages an therefore only ha"e reliance amages. Again thenon'+reaching party cannot +e un7ustly enriche an is not allowe to +eput into a +etter position than if the contract ha +een fully performe.

o

5)6 restitution amages: 4he goal of this remey is equity to pre"entun7ust enrichment. For the sake of equity a party 5+reaching or non'+reaching6 may reco"er the +enet accrue to the other party, an may+e limite +y 7ustice. 4his is not a contract remey, instea it is an equityremey.

o

% )==. f 3emeies

uicial remeies uner the rules state in this 3estatement ser"e to protect one

or more of the following interests of a promisee:o 5a6 his *e/pectation interest,- which is his interest in ha"ing the +enet of

his +argain +y +eing put in as goo a position as he woul ha"e +een inha the contract +een performe,

o 5+6 his *reliance interest,- which is his interest in +eing reim+urse for loss

cause +y reliance on the contract +y +eing put in as goo a position as hewoul ha"e +een in ha the contract not +een mae, or

o 5c6 his *restitution interest,- which is his interest in ha"ing restore to him

any +enet that he has conferre on the other party.

8amages

o easuring /pectation 8amages

o % )=N. easure >f 8amages In eneral

o $u+7ect to the limitations state in %% )1('1), the in7ure party has a right

to amages +ase on his e/pectationinterest as measure +y 5a6 the loss in the "alue to him of the other partyLs performance

cause +y its failure or eciency, plus 5+6 any other loss, incluing inciental or consequential loss,

cause +y the +reach, less 5c6 any cost or other loss that he has a"oie +y not ha"ing to

perform. Cases

eingang ". City of anan: $ee 3e %)=N. einangang sue

o"er e/pectancy amages an the 8 claime that the ta/forms were an accurate measure of his prots, not true.

aco+s Q oung ". Hent: aco+s acciently use the wrong

+ran of pipe, +ut the su+stitute pipe was of the samequality, so the non'+reaching party ha no claim foramages. 3ule: 4ri"ial +reaches o not allow the non'+reaching party to o+tain full replacement costs.

ro"es ". ohn Wuner: ohn Wuner Co. faile to grae a

lease property per agreement, an in the suit for +reachclaime that since the "alue of the property was less thanthe costs of the repair, they shoul only +e on the hook forthe cost of the property. 4he court rule that they were onthe hook for the repair an state that fullling a contractualo+ligation is +y enition not un7ust enrichment.
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n 8amages

8amages are not reco"era+le for loss +eyon an amount

that the e"ience permits to +e esta+lishe with reasona+lecertainty

Cases

$n 8amages

5&6 8amages are not reco"era+le for loss that the party in +reach

i not ha"e reason to foresee as a pro+a+le result of the +reachwhen the contract was mae.

526 oss may +e foreseea+le as a pro+a+le result of a +reach

+ecause it follows from the +reach 5a6 in the orinary course of e"ents, or

5+6 as a result of special circumstances, +eyon the orinary

course of e"ents, that the party in +reach ha reason toknow.

5)6 A court may limit amages for foreseea+le loss +y e/cluing

reco"ery for loss of prots, +y allowing reco"ery only for lossincurre in reliance, or otherwise if it conclues that in thecircumstances 7ustice so requires in orer to a"oi isproportionatecompensation.

Cases
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Galey ". Ba/enale: ill owner sue for lost prots

when a transport company took too long to ship a+roken shaft. 4he court rule that Ba/enale ha noreason to foresee the lia+ility of GaleyLs lost protswhen they took the eal, therefore they were o# thehook.

A"oi a+ility % )1(. A"oia+ility As A imitation >n 8amages

5&6 /cept as state in $u+section 526, amages are not

reco"era+le for loss that the in7ure party coul ha"e a"oiewithout unue risk, +uren or humiliation.

526 4he in7ure party is not preclue from reco"ery +y the rule

state in $u+section 5&6 to the e/tent that he has mae reasona+le+ut unsuccessful e#orts to a"oi loss.

Cases

3ockingham County ". uten Brige: Brige company

was inge +ecause they coul ha"e mitigate theirlosses +y not performing a contract after they weretol to stop.


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Walgreen ". $ara Creek: 4he in7unction was appropriate

+ecause the non'+reaching party coul later esta+lish the"alue of the non'compete clause through negotiation, +utthe courts coul not.

umley " Wagner: 4he court coul issue an in7unction to

pre"ent someone from working for someone else e"en when

they coul not force them to perform. 3estitution

% )N(. 3equirement 4hat Benet Be Conferre

A party is entitle to restitution uner the rules state in this 3estatement only to

the e/tent that he has conferre a +enet on the other party +y way of partperformance or reliance.

% )N&. easure >f 3estitution Interest

If a sum of money is aware to protect a partyLs restitution interest, it may as

7ustice requires +e measure +y eithero 5a6 the reasona+le "alue to the other party of what he recei"e in terms of

what it woul ha"e cost him to o+tain it from a person in the claimantLsposition, or

o 5+6 the e/tent to which the other partyLs property has +een increase in

"alue or his other interests a"ance.o 3estitution for Breach of Contract

Cases

!$ " Algernon Blair: allowe restitution amages for non'

+reaching party.o 4he +reaching plainti#

Cases

Britton ". 4urner: allowe restitution amages for the

+reaching party. Britton worke for M.1 months of a & yrcontract, he was entitle to his compensation for that time.

o 3estitution when there is no contract: Suasi Contract: you are a+le to get

restitution amages e"en if no contract e/iste.

Cases aglica ". aglica: pseuo wife sue for restitution

amages, court was tol to look at the "alue of the ser"ices,not the +enet recei"e.

3emeies uner the !CC: !CC amages shoul +e inline with C amages.

o BuyerLs 8amages: +uyers amages are generally the the market "alue of

the goo at the time of +reach. Case

ewell 3ung " Gaa

Breach of Warranty

Cases

AT


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% 2'N&@. BuyerLs 3ight to $pecic


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5=6 Where a sellerhas recei"e payment ingoostheir reasona+le "alue or the

procees of their resale shall +e treate as payments for the purposes ofsu+section 526O +ut if the seller has notice of the +uyerLs+reach +efore resellinggoos recei"e in part performance, his resale is su+7ect to the conitions laiown in this Article on resale +y an aggrie"e seller 5$ection 2'N(@6.
http://www.law.cornell.edu/ucc/2/article2.htm#Sellerhttp://www.law.cornell.edu/ucc/2/article2.htm#Goodshttp://www.law.cornell.edu/ucc/2/article2.htm#Goodshttp://www.law.cornell.edu/ucc/2/article2.htm#Buyerhttp://www.law.cornell.edu/ucc/2/article2.htm#Buyerhttp://www.law.cornell.edu/ucc/2/article2.htm#s2-706http://www.law.cornell.edu/ucc/2/article2.htm#Sellerhttp://www.law.cornell.edu/ucc/2/article2.htm#Goodshttp://www.law.cornell.edu/ucc/2/article2.htm#Buyerhttp://www.law.cornell.edu/ucc/2/article2.htm#s2-706


19/26


iquiation 8amages


20/26


3emeies Formulas 5U time of +reach6

/pectation 8amages!CC 5$eller6

2'N(95&6 5contract price V mkt price6 incientals consequential ' costs sa"e

/pectation amagesor if the a+o"e is inaequate to make the seller whole,then2'2(9526 5prot 5incluing reasona+le o"erhea6

inciental

' 5payments mae "alue of resale Xunless"olume seller66

e/pectation amages

/pectation 8amagesCommon aw

%)=N loss in "alue of promise consequential costs inciental costs' costs sa"e

%)1( ' losses a"oie or shoulha"e +een a"oie if mitigate

/pectancy 8amages

/pectation 8amages!CC wT Co"er 5+uyer6

52'N&&6 price alreay pai52'N&265cost of co"er'contractprice6 5inciental consequentials6 ' e/penses sa"e

/pectancy amages

!CC wTo Co"er5+uyer

52'N&&6 price alreay pai52'N&)65mkt. price V contractprice6 5inciental consequential6

' e/penses sa"e

/pectancy amages


21/26


8efenses an other 8octrines of A"oiance

$tatute of Fraus 5$>F6

o eneral 3ule

$atterel ". issouri 8ental AssLn

o $tatutory Application

Cra+tree " liza+eth Aren

o !CC $>F

ohnson Controls Inc. " 43W

8F Acti"ities ". Brown

Incapacity

o Infancy

$ternlie+ ". Eormanie

Jalencia ". White

o ental Incapacity

$immons First Eational Bank ". uzaer

o Into/ication

Jan Gorn "


22/26


o isrepresentation

ar+orough " Back

Galpert " 3osenthal

o pinion

Jokes " Arthur urray

8uress an !nue InRuence

o 8uress

Gackley " Gealey

Austin Intruments " oral

4otem arine an tug " Alyeska

o !nue InRuence

>orizzi " Bloomiel $chool 8istrict

Hase " French

!nconsciona+ilityo Williams " Walker'4homas Furniture

o Wea"er " American >il Co.

o EC 4ech " Eelson

Illegality an cciental

Hrell " Genry

Chase "


23/26

Buyers Breach

Action for


24/26


%M(: promissoryestoppelremey to a"oian in7ustice an

limite asrequire +y7ustice

Contract formationrequirements


25/26


Gammer ". $iway: Psome right, inteprot or +enet accruing to one parsome for+earance, etriment, loss o

responsi+ility gi"en, su#ere, orunertaken +y the other . . .P

Courts will not ask whether the thinwhich forms consieration oes in fa+enet, . . or is of any su+stantial "aanyone.P

Fiege ". Boehm: for+earance of a arunerstoo in goo faith to +e lawfuconsieration.

Collins "." Collins: lo"e an a#ectionsuKcient consieration

$chnell ". Eell consieration in namis not suKcient

American Agr. ". Henney illusorypromises are not suKcient consierBoth parties must +e +oun.

Alaska


26/26


contracts outline (whole year)

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