1
Q
Sales Contract - Offer
A
- Terms can be vague
- standard trade practive
- Past experience
- Need not be definite as in Common Law
2
Q
Firm Offer
A
- Cannot be revoked even if no consideration
- Three conditions must be satisfied
- Signed promise
- Up to 3 months
- Merchant
3
Q
Acceptance
A
- Can have minor changes to original offer
- Payment terms
- Change in warranty
- Major changes are not ok
4
Q
Merhant is bound by
A
Silence
Non-Merchant is not
5
Q
A
REG
flashcards
Decks in class (20)
# Cards
-
Section 1: Individual Taxation41
-
Section 2: Corporate Tax41
-
Section 3: S Corporations15
-
Section 4: Partnership Tax13
-
Section 5: Estate, Trusts, & Gift Taxes14
-
Section 6: Depreciation7
-
Section 7: Property and Special Property Tax Transactions5
-
Section 8: Tax Exempt Organization4
-
Section 9: Filing Requirements and Preparers' Penalties4
-
Section 10: Accountant Liability6
-
Section 12: Federal Securities Regulations11
-
Section 13: Contracts14
-
Section 14: Sales5
-
Section 15: Business Structures4
-
Section 21: Bankruptcy18
-
Section 22: Debtor & Creditor Relationships (Suretyship)14
-
Section 20: Secured Transactions8
-
Section 19: Agency16
-
Section 18: Commercial Paper/Negotiable Instruments11
-
Section 17: Property Law & Intellectual Property Rights18
