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| A unilateral K becomes binding if the desired act is performed with knowledge of the offer |
Simmons – man went fishing and caught the contest fish worth $ tried to claim he didn’t go fishing to try to catch the fish but he knew of the contest when he went |
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Andrewcm09 Tue, 18 Nov 2008 00:07:32 GMT |
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| Performance of a unilateral K need not be done solely with the intent of accepting the offer (must be one of the motives though) |
Klockner |
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Andrewcm09 Tue, 18 Nov 2008 00:07:32 GMT |
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| Exception to no notification– If the act is an act that the offeror will not discover or will not discover in a reasonable time then notification is necessary |
RSC §54(2) |
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Andrewcm09 Tue, 18 Nov 2008 00:07:32 GMT |
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| Notification of acceptance is not necessary in a unilateral K (unless offeror requests it) |
RSC §54(1) |
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Andrewcm09 Tue, 18 Nov 2008 00:05:50 GMT |
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| Preparing to perform doesn’t create an options K only beginning to perform |
Ragosta - fork shop guy said "show up at this bank with money and the shop is yours" this was an unilateral K |
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Andrewcm09 Thu, 20 Nov 2008 03:28:25 GMT |
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| Beginning to perform makes the offer irrevocable |
Ragosta - Fork shop guy writes "show up at this bank with the money and the shop is yours" Ragosta applied for loan before the other guy revoked no options K b/c only prepared to perform |
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Andrewcm09 Thu, 20 Nov 2008 03:07:42 GMT |
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| Detrimental reliance creates an options K |
RSC §87(2) |
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Andrewcm09 Tue, 18 Nov 2008 00:05:50 GMT |
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| When the offeror makes a unilateral contract an options contract is formed when offeree begins the invited performance |
Ragosta - fork shop guy said "show up at this bank at this time" a.k.a a unilateral K |
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Andrewcm09 Thu, 20 Nov 2008 03:31:23 GMT |
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| Unilateral K cannot be accepted by a promise |
Harris |
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Andrewcm09 Tue, 18 Nov 2008 00:04:26 GMT |
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| Unilateral K is a promise for an act |
Harris |
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Andrewcm09 Tue, 18 Nov 2008 00:04:26 GMT |
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| Exercising dominion over thing is a manifestation of assent |
Louisville Tin |
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Andrewcm09 Tue, 18 Nov 2008 00:04:26 GMT |
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| In general offeree does not have a duty to speak |
Voit |
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Andrewcm09 Tue, 18 Nov 2008 00:02:56 GMT |
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| Exception 3 – Where because of previous dealings or otherwise (catch-all), it is reasonable to interpret silence as acceptance and the offeree should notify the offeror if he doesn’t accept |
RSC §69(1)(c) |
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Andrewcm09 Tue, 18 Nov 2008 00:02:56 GMT |
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Exception 2 – when the offeror
Stated or gave offeree reason to understand that assent could be manifest by silence or inaction
The offeree in remaining silent and inactive intends to accept the offer |
RSC §69(1)(b) |
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Andrewcm09 Tue, 18 Nov 2008 00:02:56 GMT |
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Exception 1 (silence not acceptance) – when the offeree:
Takes the benefit of the services
With reasonable opportunity to reject and
Has reason to know that the services are being provided with reasonable expectation of compensation |
RSC §69(1)(a) |
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Andrewcm09 Tue, 18 Nov 2008 00:02:56 GMT |
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| Silence is not acceptance |
Voit |
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Andrewcm09 Tue, 18 Nov 2008 00:01:05 GMT |
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| If the offer is ambiguous then the beginning of performance is acceptance and the offeree is bound to complete |
RSC §62(2) |
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Andrewcm09 Tue, 18 Nov 2008 00:01:05 GMT |
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| If manner of acceptance is ambiguous offeree chooses the manner of assent |
RSC §32 |
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Andrewcm09 Tue, 18 Nov 2008 00:01:05 GMT |
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| Assent for a bilateral K can be manifest by words or actions |
Bishop |
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Andrewcm09 Tue, 18 Nov 2008 00:01:05 GMT |
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Courts will look to industry standard to determine if conduct can be deemed as assent
Separate K’s can be formed to work around industry custom |
ECM |
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Andrewcm09 Tue, 18 Nov 2008 00:00:01 GMT |
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| conduct deemed as assent but the party does not in fact assent may make the K voidable because of duress, fraud, mistake, or other invalidating cause |
RSC §19(3) |
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Andrewcm09 Tue, 18 Nov 2008 00:00:01 GMT |
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| conduct generally not manifestation of assent unless party intends to engage in the conduct and knows or should have reason to know that the other party may infer from his conduct his assent |
RSC §19(2) |
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Andrewcm09 Tue, 18 Nov 2008 00:00:01 GMT |
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| Manifestation of assent may be made by written or spoken words, acts, or failure to act |
RSC §19(1) |
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Andrewcm09 Tue, 18 Nov 2008 00:00:01 GMT |
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| Unless indicated by language or circumstances an offeror invites acceptance by any reasonable manner |
RSC §30(2) |
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Andrewcm09 Mon, 17 Nov 2008 23:54:40 GMT |
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| A written revocation, rejection, or acceptance is received when it comes into the possession of the person addressed or an authorized agent or when it is deposited in an authorized place |
RSC §68 |
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Andrewcm09 Mon, 17 Nov 2008 23:54:40 GMT |
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| If a place, time, or manner of acceptance is merely suggested then other means of acceptance are not precluded |
RSC §60 |
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Andrewcm09 Mon, 17 Nov 2008 23:54:40 GMT |
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| If a place, time, or manner of acceptance is specified then acceptance must comply to form a K |
RSC §60 |
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Andrewcm09 Mon, 17 Nov 2008 23:52:56 GMT |
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| An acceptance under protest is still an acceptance |
Price |
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Andrewcm09 Mon, 17 Nov 2008 23:52:56 GMT |
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| When the offeree accepts an offer an relieves the offeror of a material obligation it does not invalidate the offer. It is acceptance |
RI dep’t of transportation |
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Andrewcm09 Mon, 17 Nov 2008 23:52:56 GMT |
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| An acceptance cannot change the material terms of the offer, otherwise it is a counteroffer |
RI dep’t of transportation |
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Andrewcm09 Mon, 17 Nov 2008 23:52:56 GMT |
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| The mere addition of a collateral or immaterial [matter] will not prevent the formation of a K |
RI dep’t of transportation |
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Andrewcm09 Mon, 17 Nov 2008 23:52:14 GMT |
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| Acceptance is not equivocation if the offeree merely puts into words that which was already reasonably implied in the terms of the offer |
RI dep’t of transportation |
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Andrewcm09 Mon, 17 Nov 2008 23:52:14 GMT |
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| Parties attach subjective meaning. A knows both meanings. B only knows one. B’s meaning applies, even if A’s was more reasonable |
Principle IV |
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Andrewcm09 Mon, 17 Nov 2008 23:52:13 GMT |
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| Parties agree on subjective meaning. That meaning applies even if it is unreasonable |
Principle III |
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Andrewcm09 Mon, 17 Nov 2008 23:52:13 GMT |
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| both parties attach subjective meaning. Neither is more reasonable. Neither apply |
Principle II |
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Andrewcm09 Mon, 17 Nov 2008 23:25:22 GMT |
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| parties attach subjective meanings. The most reasonable meaning applies |
Principle I |
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Andrewcm09 Mon, 17 Nov 2008 23:25:22 GMT |
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| Unless O or surrounding circumstances indicate that the O is intended to continue beyond the immediate conversation, POA lapses at end of conversation |
Akers(RSC §40) |
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Andrewcm09 Mon, 17 Nov 2008 23:25:22 GMT |
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| Acceptance can be made in any reasonable manner |
RSC §30 |
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Andrewcm09 Mon, 17 Nov 2008 23:24:53 GMT |
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| Mental assent not necessary for K formation |
Lucy |
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Andrewcm09 Mon, 17 Nov 2008 23:24:53 GMT |
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| Acceptance must be definite and unequivocal |
Ardente |
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Andrewcm09 Mon, 17 Nov 2008 23:24:53 GMT |
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| Subcontractor is bound by his bid b/c the general detrimentally relies on it |
Loranger |
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Andrewcm09 Mon, 17 Nov 2008 23:24:53 GMT |
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| Every K is to interpreted by what the parties intended to do when they formed the K |
Spaulding |
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Andrewcm09 Mon, 17 Nov 2008 23:24:06 GMT |
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| the court can supply missing terms |
RSC 204 |
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Andrewcm09 Mon, 17 Nov 2008 23:24:06 GMT |
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| To determine which meaning is more reasonable consult dictionary, incorporated documents, realities of the market, and trade usage (DIRT) |
Chicken Case |
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Andrewcm09 Thu, 20 Nov 2008 03:30:15 GMT |
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There is a rebuttable presumption that ads are not offers
Rebut by showing there is no risk of over acceptance |
Lefkowitz |
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Andrewcm09 Mon, 17 Nov 2008 23:24:06 GMT |
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| Counteroffer terminates POA |
Ardente - specific performance on real estate deal. Lawyer made counteroffer asking for furniture on behalf of buyers and then seller decided not to sell |
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Andrewcm09 Wed, 19 Nov 2008 01:24:47 GMT |
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| Lapse terminates POA |
RSC 41 |
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Andrewcm09 Mon, 17 Nov 2008 23:23:17 GMT |
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| Signed offer by merchant that offer will remain open |
UCC 2-205 |
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Andrewcm09 Mon, 17 Nov 2008 23:23:17 GMT |
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Limitations on revocation
Pay for options K
Begin performance
Detrimental reliance |
RSC 87(2) |
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Andrewcm09 Mon, 17 Nov 2008 23:23:17 GMT |
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| If the offeree hears reliable information that the offeror is taking steps that show intent not to enter K with offeree it constitutes revocation |
RSC 43 |
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Andrewcm09 Mon, 17 Nov 2008 23:21:57 GMT |
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| Revocation terminates POA |
Dickinson |
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Andrewcm09 Mon, 17 Nov 2008 23:21:57 GMT |
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| Rejection terminates POA |
Akers |
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Andrewcm09 Mon, 17 Nov 2008 23:21:57 GMT |
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| Death terminates POA |
RSC 48 |
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Andrewcm09 Mon, 17 Nov 2008 23:21:57 GMT |
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| Offer must be clear, definite, and explicit |
Lefkowtiz |
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Andrewcm09 Wed, 19 Nov 2008 00:55:25 GMT |
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| Offer must be final and show commitment |
Lefkowtiz |
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Andrewcm09 Mon, 17 Nov 2008 22:39:50 GMT |
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| Offer must not reserve decision making for later |
Lefkowtiz |
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Andrewcm09 Mon, 17 Nov 2008 22:39:50 GMT |
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