UGBA 175 Final: UGBAFinalOutline
16 Dec 2016
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Document Summary
Services and real property vs. tangible/ movable personal property (including electricity and software) Definiteness requirements: price, quantity, parties, subject matter vs. quantity. Modification requires new consideration vs. no new consideration. No good faith clause, good faith is assumed. Minors: can recover from 3rd party vs. voidable title becomes legal title. Material/ minor breach vs. perfect tender rule. Firm offer: between merchants, signed writing, up to 3 months. Demonstrate present intent to be bound, effective upon dispatch (unless stated or acceptance sent out after initial rejection) Silence is not acceptance unless you put it on yourself. Duress: improper threat, feat, induce to enter into contract (subjective test) Social/ emotional duress (no other alternative) > voidable. Economic duress (no other alternative) > voidable. Undue influence: confidential relationship of trust, party takes advantage to gain a benefit from the contract. Factors: information disclosed, adequacy of consideration, independent counsel. Fraud in the execution: misrepresentation of the nature of the contract > void.
