LPP 255 Chapter Notes - Chapter 10: Quasi, Quasi-Contract, Uniform Commercial Code

• School: Syracuse University
• Department: Law & Public Policy
• Course: LPP 255
• Professor: Unkown

Document Summary

Chapter 10: common law governs all contracts except statutory law, not ucc (uniform commercial code) Voluntary consent= the consent of both parties is voluntary. No contracts formed as a result of fraud, undue influence, mistake or duress. Form= the contract must be in whatever form the law requires. Types of contracts: offeror- party making the offer, offeree= party looking at the offer, bilateral= offeree can accept simply by promising to perform. No performance such as payment of funds, delivery or goods need to take place. Contract comes into existence at the moment the promises are exchanged: unilateral= offeree can accept the offer only by completing the performance. Contract comes into existence the moment the contract is performed: cannot be revoked once performance has begun, formal= require special form or method of creation. Checks, drafts, promissory notes: informal= no special form required, express= terms of agreement are in words, oral or written, implied= implied from the conduct of parties.