SMG LA 245 Lecture Notes - Lecture 16: Fairy, Estoppel, Quantum Meruit

• School: Boston University
• Department: Law
• Course: SMG LA 245
• Professor: Kathleen Luz

Document Summary

Uniform commercial code: created in 1952 because lack of uniformity across business transactions, only applicable to sale of goods. Look at primary purpose of ucc and see if it applies. Just a bunch of smart lawyers suggesting how they think the law should be. Contract: promise that the law will enforce, parties must ha(cid:448)e a (cid:862)(cid:373)eeti(cid:374)g of the (cid:373)i(cid:374)ds(cid:863) Must (cid:271)e a(cid:374) ag(cid:396)ee(cid:373)e(cid:374)t o(cid:374) esse(cid:374)tial te(cid:396)(cid:373)s. cou(cid:396)t (cid:449)o(cid:374)"t a(cid:272)(cid:272)ept a (cid:272)o(cid:374)t(cid:396)a(cid:272)t u(cid:374)less there are definite 3 elements. Types of contracts: bilateral v unilateral. Bilateral i agree to do something; you agree to do something in return. (most contracts you will see are mainly bilateral contracts) Unilateral one person offers something, the other person can only accept. Ja(cid:373)es (cid:862)white(cid:455)(cid:863) bulge(cid:396) a(cid:374)d ea(cid:396)(cid:272)h (cid:396)e(cid:449)a(cid:396)d: express v implied. Express when orally or writing expressed terms of agreement (what you typically think of for a contract) Implied court says we will imply a contract based on the words.