Term
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Definition
| The offeree must accept the offer without changing it |
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Term
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Definition
| A common law doctrine that provides where the acceptance of an express offer is implied from the offeree's performance |
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Term
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Definition
| those terms that are supplied by the party on the form and have not been reprinted. |
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Term
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Definition
| the fixed terms in a preprinted form and are not bargained for. These may be substantive terms (warranty, disclaimer, credit, arbitration, risk of loss, choice of law, and choice of forum) or procedural terms ("only my terms shall apply" and "this is not an acceptance unless you agree to all my terms") |
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Term
| Definite expression of acceptance |
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Definition
| When the offeree responds to the offeror's preprinted form with his or her own preprinted form, the offeree manifests a definite expression of acceptance when the offeree's form accepts the offeror's "bargained for" terms. |
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Term
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Definition
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Term
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Definition
| the seller's acceptance form |
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Term
| Seasonable expression of acceptance |
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Definition
| When preprinted forms are exchanged, a seasonable expression of acceptance refers to the fact that the second form must have been sent within a reasonable time after receiving the first form |
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Term
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Definition
| When two forms are exchanged, an additional term is a substantive boilerplate term that appears second form but not in the first form |
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Term
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Definition
| When two forms are exchanged, a different term is a substantive boilerplate term that appears in both forms - but one is not the mirror image of the other |
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Term
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Definition
| Defined under UCC Article 2 section 2-104 sentence 2 - may be either a merchant who has specialize knowledge as to the goods, specialized knowledge as to the business practices, or specialized knowledge as to both goods and business practices. The business practices are those discussed in a specific code section. Therefore, a party may have specialized knowledge as to some business practices but not others - or may have specialized knowledge to the goods but as to specialized business practices and therefore may be a merchant for one Code section but not the other. |
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Term
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Definition
| both parties to the transaction (the buyer and the seller) are chargeable with the knowledge or the skill required to be a merchant for a particular Code section. |
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Term
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Definition
The rule of determining when an acceptance sent from a distance is affective. Under the posting
(mailbox) rule, acceptance is effective when sent. |
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Term
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Definition
| Under the classical contract theory, modification of a contract is itself a contract and must follow the same rules of contract formation required for the original contract |
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Term
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Definition
| Terminated the contracted parties duty to perform |
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Term
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Definition
| Contract to pay a stated amount to discharge a prior obligation that is uncertain as to its existence or amount |
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Term
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Definition
| Notification to the other contracting party that he or she will no longer be contractually bound |
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Term
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Definition
| Refusal to accept a right or preform a duty |
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Term
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Definition
| affirmation of the contract |
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Term
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Definition
| Articles that the minor actually needs and must supply themselves do to a providers (i.e parents) cannot/will not provide |
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Term
| Expectation damages/remedies |
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Definition
| place the non-breaching party in the position he or she would have been in if the contract had been fully performed |
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Term
| Restitution damages/remedies |
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Definition
| Places the breaching party back to the same place they were before the contract was performed |
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Term
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Definition
| A deduction of the amount that is offered to the of the amount awarded to defendant form the amount awarded to the plaintiff. |
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Term
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Definition
| When a court no longer considers a person a minor even though the person's chronological age would fall within the definition of a minor |
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Term
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Definition
| Common law test whereby a contracting party may disaffirm a contract if his or her mind is so mentally defective to render them unable to comprehend the nature of the transaction |
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Term
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Definition
| The inability to act in a reasonable manner - thereby disaffirming of a contract is allowed |
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