LAW 101 Lecture Notes - Lecture 42: Posting Rule
Document Summary
Types of agreement: requirement: initial focus is on buyer; a contract by all requirements of buyer from the seller, ex: buyer is seeking to obtain chairs, enters into a contract from. Each chair will be worth per chair. We don"t know how many chairs it"s enforceable, but not definite; all the chairs that the buyer needs is reachable by the seller. Can buyer sue: a: yes, for the difference between, output: places initial focus on seller; producer/seller must sell entire production to buyer, q: how does a buyer breach an output contract, a: if buyer doesn"t buy whole production. Exception is, it is enforceable, if: offeree gave offeror consideration to keep it open (something given in exchange for something else): ex: person is selling a car & gives other person a week to pay. If person buying leaves k in advance for the car, seller has to pay it to the buyer.
