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The Law of Contracts and the Uniform Commercial Code

by: Tepper, Pamela R.

The Law of Contracts and the Uniform Commercial Code

by: Tepper, Pamela R.

ISBN 13:
9780827363243
ISBN 10:
0827363249
Format: Hardcover
Copyright: 02/13/1995
Publisher: Cengage Learning
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Summary

This book is ideal for a study of contract law, this book covers all of the important features of common law contracts as well as Article II of the UCC. Chapter summaries, review questions, exercises, running glossary, and more help students fully grasp this complex area of the law.ALSO AVAILABLE INSTRUCTOR SUPPLEMENTS CALL CUSTOMER SUPPORT TO ORDERComputerized Test Bank, ISBN:0-8273-7134-9 Instructor's Manual, ISBN: 0-8273-6325-7

Preface

xxiii

Acknowledgments

xxv

Table of Cases

xxvii

PART I: AN INTRODUCTION TO CONTRACTS

(238)

Contract Law: A General Introduction

(18)

The Law of Contracts

(3)

The Common Law of Contracts

(1)

The Restatements of Contracts

(1)

The Uniform Commercial Code

(1)

The Contract Defined

(4)

The Elements of Contract

(2)

Contracts Classified

(6)

Bilateral and Unilateral Contracts

(2)

Express and Implied Contracts

(1)

Quasi Contracts

(1)

Executed and Executory Contracts

(1)

Valid, Void, Voidable, and Enforceable Contracts

(1)

Formal and Informal Contracts

(1)

Practical Application

(5)

Summary

(1)

Review Questions

(1)

Exercises

(1)

Formation of a Contract: Offer and Acceptance

(21)

Rreliminary Issues: An Offer or Preliminary Negotiation

(6)

Offeror Must Have Intent

(2)

Terms of Offer Must Be Definite

(2)

Offeror Must Communicate Offer

(1)

Advertisements and Solicitations

(2)

Acceptance of the Offer

(6)

Written Acceptance

(1)

The Mailbox Rule

(1)

Oral Acceptance

(1)

Implied Acceptance

(2)

Unilateral and Bilateral Contracts Distinguished

(1)

Mirror Image Rule

(1)

Termination of the Offer

(4)

Action of the Parties

(1)

The Counteroffer

(1)

Rejection

(1)

Revocation

(1)

Expiration or Lapse of Time

(1)

Operation of Law

(1)

Legality

(1)

Death

(1)

Insanity

(1)

Destruction of the Subject Matter

(1)

Practical Application

(5)

Summary

(1)

Review Questions

(1)

Exercises

(2)

Mutual Assent of the Parties

(26)

Mutual Assent Defined

(1)

Methods of Destroying Mutual Assent

(20)

Fraud

(1)

Misstatement of Fact

(1)

Fact Is Material

(1)

Knowledge of False Statement

(1)

Intent to Deceive

(1)

Reliance on Misstated Fact or Representation

(1)

Representation Caused Damage

(1)

Effect of Fraud

(2)

Misrepresentation

(1)

The Duty of Disclose

(3)

Duty to Disclose: Fiduciaries

(1)

Mistake

(1)

Mutual Mistake

(3)

Unilateral Mistake

(1)

Duress

(1)

Coercion

(3)

Undue Influence

(2)

Unconscionability

(1)

Procedural Unconscionability

(1)

Substantive Unconscionability

(1)

Practical Application

(5)

Default Provisions

(1)

Interest Provisions

(1)

Remedy Provisions

(1)

Summary

(1)

Review Questions

(1)

Exercises

(2)

Consideration: The Value for the Promise

(19)

The Nature of Consideration

(1)

The Elements of Consideration

(4)

A Detriment or Benefit

(1)

Bargained Exchange of the Parties

(1)

For Value

(1)

Money

(1)

Property

(1)

Services

(1)

Acts of Forbearance

(1)

A Promise Between the Parties

(1)

Value Must Be Legal

(1)

The Adequacy of Consideration

(2)

Absence of Consideration

(3)

Gifts

(1)

Illusory Promises

(1)

Moral Consideration

(1)

Past Consideration

(1)

Preexisting Duty

(1)

The Exceptions: Contracts Enforceable Without Consideration

(4)

Promissory Estoppel

(3)

Statute of Limitations

(1)

Bankruptcy

(1)

Benefits Received

(1)

Consideration in Dispute

(1)

Liquidated Claims

(1)

Unliquidated Claims

(1)

Practical Application

(4)

Summary

(1)

Review Questions

(1)

Exercises

(1)

Capacity: The Ability to Contract

(17)

Defining Legal Capacity

(1)

A Minor's Contractual Capacity

(8)

Necessities

(4)

Misrepresenting Age

(1)

Ratification: Validating a Contract

(1)

The Capacity of Insane and Mentally Ill Persons

(3)

Other Persons Lacking Capacity

(1)

Intoxicated or Drugged Persons

(1)

Aliens

(1)

Convicted Felons

(1)

Practical Application

(4)

Summary

101

(1)

Review Questions

101

(1)

Exercises

102

(1)

Legality in Contracts

103

(20)

Legality: A Necessity for Enforceability

103

(1)

Contracts Violating a Statute

104

(4)

Usury Laws

104

(3)

Wagering Laws

107

(1)

Sunday Laws

107

(1)

Unlicensed Performance Laws

107

(1)

Contracts Violating Public Policy

108

(10)

Covenants Not to Compete

114

(1)

Covenants Incident to a Business

114

(1)

Covenants Incident to Employment

115

(1)

Exculpatory Clauses

115

(3)

Exceptions to Illegality

118

(2)

Divisible Contracts

120

(1)

Practical Applications

120

(3)

Summary

121

(1)

Review Questions

121

(1)

Exercises

122

(1)

Proper Form of the Contract: The Writing

123

(33)

Understanding the Statute of Frauds

123

(2)

Types of Contracts Required to Be in Writing

125

(9)

Contracts Not to Be Performed Within One Year

125

(2)

Contracts of a Third Party to Pay the Debt of Another

127

(1)

Main Purpose Rule

128

(1)

Contracts Made by Executors and Administrators of Estates

129

(1)

Contracts in Consideration of Marriage

129

(1)

Contracts for the Transfer of Real Property

130

(4)

Additional Contracts Requiring Writing

134

(1)

The Uniform Commercial Code's Statute of Frauds

134

(1)

Satisfying the Statute of Frauds: The Writing

134

(4)

Interpretation of a Contract

138

(7)

Rules of Interpretation

138

(1)

The Strict Construction Doctrine

138

(1)

Plain Meaning

139

(1)

General versus Specific Terms

140

(1)

General Custom and Usage

141

(1)

Summary of Interpretation

141

(1)

The Parol Evidence Rule

141

(3)

Merger Clauses: The Presumption of a Contract

144

(1)

Integrated Contracts

144

(1)

Partially Integrated Contracts

145

(1)

Exceptions to Parol Evidence Rule

145

(4)

Practical Applications

149

(7)

Summary

153

(1)

Review Questions

154

(1)

Exercises

154

(2)

Performance and Discharge of the Contract

156

(32)

Conditions to Performance

156

(8)

Condition Precedent

157

(3)

Concurrent Condition

160

(1)

Condition Subsequent

160

(2)

Express and Implied Conditions

162

(2)

Discharging Contractual Obligations

164

(1)

Discharge by Performance

164

(3)

Substantial Performance

165

(2)

Discharge by Agreement

167

(4)

Rescission

167

(1)

Release

168

(1)

Novation

168

(3)

Accord and Satisfaction

171

(1)

Discharge by Contract Terms

171

(1)

Discharge by Nonperformance

171

(8)

Impossibility of Performance

171

(3)

Relexing the Doctrine of Impossibility: Impracticability of Performance

174

(2)

Frustration of Purpose

176

(1)

Failure of a Condition

176

(1)

Breach of Contract

176

(3)

Anticipatory Breach

179

(1)

Discharge by Operation of Law

179

(1)

Bankruptcy

180

(1)

Statute of Limitations

180

(1)

Contract Modification: Threats of Nonperformance

180

(3)

Practical Application

183

(5)

Summary

186

(1)

Review Questions

186

(1)

Exercises

187

(1)

Remedies in Contract Law

188

(28)

Distinguishing Between Legal and Equitable Remedies

188

(1)

Legal Remedies or Damages

189

(14)

Compensatory Damages

189

(3)

Consequential Damages

192

(2)

Punitive Damages

194

(1)

Nominal Damages

195

(1)

Liquidated Damages

196

(4)

Mitigation of Damages

200

(3)

Equitable Remedies

203

(6)

Specific Performance

203

(4)

Injunctive Relief

207

(1)

Rescission

207

(2)

Reformation

209

(1)

Restitution and Reliance as a Remedy

209

(2)

Restitution

209

(1)

Reliance Damages

210

(1)

Election of Remedies

211

(1)

Practical Application

211

(5)

Summary

213

(1)

Review Questions

213

(1)

Exercises

214

(2)

Third-Party Contracts

216

(23)

Defining the Relationship in Third-Party Contracts

216

(6)

Intended Beneficiary

217

(1)

Donee Beneficiary

218

(1)

Creditor Beneficiary

219

(1)

Incidental Beneficiary

220

(2)

The Privity Problem

222

(1)

Distinguishing Between Assignments and Delegations

223

(1)

Assignments

223

(3)

Perfecting the Assignment

225

(1)

Assumption of Rights and Obligations under an Assignment

226

(1)

Nonassignable Contract Rights

226

(3)

Delegation in Contracts

229

(3)

Novation Distinguished

232

(2)

Practical Application

234

(5)

Summary

235

(1)

Review Questions

236

(1)

Exercises

237

(2)

PART II: AN INTRODUCTION TO THE UNIFORM COMMERCIAL CODE

239

(132)

Sales: Article 2 of the Uniform Commercial Code

240

(38)

Understanding the Uniform Commercial Code

240

(2)

The Scope of Article 2

242

(2)

Formation of the Contract: Departure from Common Law

244

(5)

Modifying the Mirror Image Rule

249

(10)

Missing and Open Terms

250

(1)

Additional Consistent Terms

251

(4)

Output and Requirements Contracts

255

(4)

Unconscionability in Sales Contracts

259

(4)

Procedural Unconscionability

260

(1)

Substantive Unconscionability

260

(3)

Writing Requirements under Article 2: The Statute of Frauds

263

(5)

Parol Evidence Rule

266

(1)

Course of Dealing

266

(1)

Usage of Trade

266

(1)

Course of Performance

267

(1)

A New Addition: Article 2 on Leases

268

(3)

Practical Applications

271

(7)

Summary

276

(1)

Review Questions

277

(1)

Exercises

277

(1)

Performance under Article 2; Seller and Buyer Duties

278

(25)

General Obligations

278

(1)

Seller's Duties and Obligations

279

(3)

Delivery by Common Carrier

279

(1)

Delivery to a Bailee

279

(2)

Delivery by Document of Title

281

(1)

Delivery of the Goods: No Delivery Place

281

(1)

Shipment Contracts: Parties' Rights and Responsibilities

282

(3)

Buyer's Duties and Responsibilities

285

(7)

Right to Inspect

286

(6)

Payment

292

(1)

Payment by Check

292

(1)

Letters of Credit

292

(1)

Payment Against a Document of Title

293

(1)

Special Types of Sales under Article 2

293

(4)

Sale on Approval

293

(3)

Sale or Return

296

(1)

Auction Sales

297

(1)

Bulk Sales and Transfers

297

(2)

Practical Application

299

(4)

Summary

301

(1)

Review Questions

301

(1)

Exercises

302

(1)

Title, Risk of Loss, and Warranties

303

(33)

General Rules of Passage of Title and Risk of Loss

303

(1)

Passage of Title: Shipment Contracts

304

(1)

Passage of Title: Destination Contracts

304

(1)

Passage of Title: Other Considerations

305

(2)

No Delivery Requirement in Contract

305

(1)

Documents of Title

305

(1)

By Agreement of the Parties

305

(1)

Sale on Approval

306

(1)

Revesting of Title

306

(1)

Void and Voidable Title

307

(4)

Entrustment of Goods

309

(2)

Special Problems in Risk-of-Loss Situations

311

(1)

Warranties and Sales

312

(12)

Express Warranties

312

(1)

Statement of Fact or Promise to Buyer

312

(1)

Description of the Goods

313

(1)

Sample or Model

314

(1)

Implied Warranties

314

(1)

Warranty of Title

314

(4)

Warranty of Infringement

318

(1)

Warranty of Merchantability

318

(3)

Warranty of Fitness for a Particular Purpose

321

(3)

General Warranty of Protection: Magnuson-Moss Act

324

(1)

The Right to Exclude Warranties

325

(2)

Persons Covered under Warranties

327

(1)

Remedies for Breach of Warranty

328

(4)

Negligence

329

(1)

Strict Liability

330

(2)

Practical Application

332

(4)

Summary

334

(1)

Review Questions

335

(1)

Exercises

335

(1)

Seller and Buyer Remedies

336

(35)

Overview of the Available Remedies

337

(1)

Remedies Available to Seller

337

(14)

Withhold Delivery of Goods

337

(2)

Stoppage of Delivery in Transit

339

(1)

Resale of Goods

340

(5)

Lawsuit for Damages

345

(4)

Cancellation of the Contract

349

(1)

Reclamation of Goods

349

(2)

Buyer's Remedies

351

(9)

Lawsuit for Damages

351

(1)

Cover the Sale

352

(3)

Specific Performance

355

(1)

Replevin

355

(1)

Buyer's Resale of the Goods

356

(1)

Cancellation

356

(1)

Revocation of Acceptance

356

(4)

Retain Goods with Adjustment

360

(1)

Contractual Remedies

360

(2)

Anticipatory Repudiation

362

(3)

The Doctrine of Impracticability

365

(2)

Statute of Limitations

367

(1)

Practical Applications

367

(4)

Summary

368

(1)

Review Questions

368

(1)

Exercises

369

(2)

PART III: DRAFTING CONTRACTS

371

(49)

Drafting a Contract: The Essentials

372

(17)

Predrafting Considerations

373

(1)

Knowing What the Client Wants

373

(1)

Develop a Plan of Organization

374

(1)

Choose a Model or Form

375

(1)

Language in the Contract

376

(3)

Word Choice

379

(2)

Ambiguity

380

(1)

Contractions

381

(1)

Neutralizing Terminology: Bias-Free Writing

381

(1)

Grammatical Structure in the Contract

381

(3)

Sentence Structure

381

(1)

Voice and Tense

382

(1)

Parallel Construction

382

(1)

Run-On Sentences and Sentence Fragments

382

(1)

Punctuation

383

(1)

Editing and Rewriting

384

(2)

Practical Application

386

(3)

Summary

386

(1)

Review Questions

387

(1)

Exercises

387

(2)

Drafting a Contract: Specific Provisions

389

(31)

The General Contractual Agreement

390

(12)

Identity of the Parties

390

(1)

Definitions Section

391

(1)

Representations and Conditions

391

(1)

Duration

391

(1)

Termination Provisions

392

(1)

Performance

392

(1)

Time for Performance

393

(1)

Payment

393

(2)

Indemnification

395

(1)

Limitation of Liability

395

(1)

Time of the Essence

396

(1)

Liquidated Damages

396

(1)

Restrictive Covenants

397

(1)

Arbitration

397

(1)

Merger Clauses

398

(1)

Choice of Governing Law and Choice of Forum

399

(1)

Assignability

399

(1)

Notice

399

(1)

Signatures of Parties and Date

400

(1)

Sample Contract

401

(1)

The Sales Contract

402

(6)

Description of Goods

403

(1)

Quantity

403

(1)

Price

404

(1)

Title

405

(1)

Delivery

405

(1)

Warranties

406

(1)

Credit

406

(1)

Remedies Provided to the Parties

407

(1)

Miscellaneous Standard Provisions

407

(1)

Practical Application

408

(12)

Employment Agreement

408

(4)

Sale of Business Contract

412

(6)

Summary

418

(1)

Review Questions

418

(1)

Exercises

419

(1)

Glossary

420

(11)

Index

431

Amazon no longer offers textbook rentals. We do!

The Law of Contracts and the Uniform Commercial Code

The Law of Contracts and the Uniform Commercial Code

9780827363243

0827363249

Summary

Table of Contents

Supplemental Materials

Write a Review

Amazon no longer offers textbook rentals. We do!

The Law of Contracts and the Uniform Commercial Code

The Law of Contracts and the Uniform Commercial Code

9780827363243

0827363249

Summary

Table of Contents

Supplemental Materials

Write a Review

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