🔥 Contract formation
Offer, acceptance, consideration.
🔥 Consideration
Bargained-for legal detriment.
🔥 Statute of Frauds
Land contracts, contracts not performable within one year, goods $500 or more, surety contracts.
🔥 UCC formation
Contract can form even with missing terms.
🔥 Battle of the forms
Additional terms may become part unless material.
🔥 Material breach
Excuses the other party’s performance.
🔥 Contract remedies goal
Put non-breaching party in position as if contract performed.
🔥 UCC buyer remedies
Cover or damages.
Mirror image rule
Common law acceptance must match offer.
UCC modification
No consideration required if made in good faith.
Anticipatory repudiation
Allows immediate suit and suspends performance.
Hadley v Baxendale
Consequential damages limited to foreseeable losses.
