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Contract Quizz

Dicta

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Re: Contract Quizz
« Reply #10 on: December 08, 2004, 07:16:25 PM »
Yeah, it's not in the UCC is it Ms. Hogan.......

jeffjoe

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Re: Contract Quizz
« Reply #11 on: December 08, 2004, 07:17:33 PM »
It's a trick question.  How does the UCC deal with it?

Dicta

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Re: Contract Quizz
« Reply #12 on: December 08, 2004, 07:24:31 PM »
ummmmmm I don't know...could you enlighten me? ???

jeffjoe

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Re: Contract Quizz
« Reply #13 on: December 08, 2004, 07:30:12 PM »
It abolishes the mirror rule.

Dicta

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Re: Contract Quizz
« Reply #14 on: December 08, 2004, 07:50:15 PM »
ok, I knew that. I thought you were looking for its parallel in the UCC.
I hate contracts......

jeffjoe

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Re: Contract Quizz
« Reply #15 on: December 08, 2004, 07:53:10 PM »
You have to read the question.  I asked how it handled it.  I told you it was a trick question.



1) What will the court not do with consideration?

2) When are letters of intent a good idea?

Dicta

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Re: Contract Quizz
« Reply #16 on: December 08, 2004, 08:45:46 PM »
the court will not place a value on consideration

letters of intent are a good idea when terms are vague (i don't know)
should I be looking this up before I answer?

jeffjoe

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Re: Contract Quizz
« Reply #17 on: December 08, 2004, 09:01:32 PM »
No, don't look it up before you answer. 


Courts will not judge the value of consideration.  It is enough that it was bargained for.

letters of intent are poison according to prof.  they may say letter of intent, but they may consitute a contract and really are not needed.

Dicta

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Re: Contract Quizz
« Reply #18 on: December 09, 2004, 09:52:58 PM »
how is acceptance of a bilateral contract determined?

jeffjoe

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Re: Contract Quizz
« Reply #19 on: December 10, 2004, 08:32:17 AM »
how is acceptance of a bilateral contract determined?

by promise.