BUL 4310 Midterm: Exam 2 Textbook Outline

• School: University of Florida
• Department: Business Law
• Course: BUL 4310
• Professor: Philip Kabler

Document Summary

Implied: express written or oral, overtly arrived at; fully and explicitly stated. Unilateral: bilateral based on an exchange of promises; can accept simply by promising to perform. 7 contract and ratify it (implied or expressed: exceptions: if minor misrepresented age, insane persons temporary, oppressive condition affecting the mind and ability to understand particularly if the condition is apparent to the other party. Statute of frauds; parol evidence rule; privity: the u. s. uses this, british do not, covers certain categories of contracts & requires written memorandum, scope of statute of frauds six kinds of contracts. 4) does the evidence conflict or add to terms of integrated contract: exceptions, evidence explaining or clarifying terms, concerning later dealings (mutual consideration or reliance) 11 parties: incidental beneficiaries cannot sue on contracts of other parties; does not have substantial interest; contract was not made for their benefit. 14 be material alterations and mean no contract was formed.