Contracts- Simple Outline
Topics:
• Sources of Contract law
• Types of contracts
• The bargaining process
• The objective theory of assent
• Definition of offer
• Role of intent
• Advertisements as offers
• Offers for sale of goods contracts (UCC Article 2)
• Acceptance
• Mode of acceptance
• Effect of acceptance/effective date
• Silence as acceptance
• Termination of power to accept
■Lapse
■Revocability
■Revocation
• Characterization of offer as bilateral vs unilateral and how it affects acceptance
• Preliminary and incomplete agreements
• The problem of indefiniteness
• Deferred agreement
• The effect of an agreement to write down the terms
• Good faith bargaining obligation
• Consideration
• The basic doctrine of consideration
• Pre-existing duties
