BLA 461 Lecture Notes - Lecture 2: Uniform Commercial Code, Meeting Of The Minds, Mirror Image
Document Summary
Chapter 2: sales of goods under the ucc. Ucc: same approach as the common law, but tweak the rules to make it a system that facilitates commerce. )f goods ucc, if labor : merchant rules: has to be the core activity. Common law. truck, when selling the truck, not a merchant transaction: expectation good faith and reasonableness. Acceptance: mail box rule, mirror image rule applies, consideration. To modify a common law contract, consideration must be given to support modification: capacity, lawful purpose. Open delivery location (buyer pick-up at seller"s place of business of warehouse) No specified delivery date (reasonable period of time) Firm offer is irrevocable and must be in writing, no consideration necessary. Ucc does not follow mirror image rule (cid:498)battle of forms(cid:499) rule: if minor discrepancy, then valid contract /!\ exam: consideration. Modify a goods contract without exchanging new consideration.
