UGBA 175 Chapter Notes - Chapter 9: Chicago Medical School, Quasi-Contract, Consideration

• School: Berkeley
• Department: Business Administration Undergraduate Program
• Course: UGBA 175
• Professor: Alan Ross Alan

Document Summary

Today: formalities relaxed, less strict in binding parties (excuse party in the case of fraud, duress, undue influence, mistake, unsconscionability, impossibility), grant equitable remedies, allow third party beneficiaries to sue. 20th c: (1) limit absolute freedom of contracts (2) relax requirements of contract formation. Common law: contracts governed by state common law -> restatements of the law of contract. Governs sales in all states except lousiana. Sale: passing of title to goods from a seller to buyer for a price. Personal property: any property other than an interest in real property. Types of contract outside the ucc: contracts involving real property (land and anything attached to it, including buildings), employment, service, insurance, intangibles etc. ) are governed by general contract law. Promise: manifestation of the intention to act or refrain from acting a certain way; promise may be contractual or contractual.