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1. Contracts: 2 sets of contract rules to learn
a. common law contract rules: apply to contracts that are not a sale of goods ( real estate, insurance, employment, professional services)
b. Article Two of the Uniform Commercial Code (UCC): governs transactions involving the sale of goods ( tangible personal property )
c. Contract: set of promises where court holds each party accountable; if a contract is not performed, one of the parties may be held in breach(Î¥·´) of contract
2. Oral vs. Written contact
a. equally enforceable( ¿ÉʵʩµÄ)
b. Oral is difficult to prove; written has more proof
3. Parties:
a. promisor/offeror: making promise
b. promise/offeree: accepting promise

Requirements

1. offer: may be either oral or written (or sometimes by actions);
must be communicated by offeror;
definite(Ã÷È·µÄ), offeror must show intent;
same for promise;
communicated: let offeree know that offer has been made;
definite: must be clear enough that offer is made, must......

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Approximate Word Count: 1367
Approximate Pages: 6 (250 words per double-spaced page)

Some common words in this essay are:

• [offer]
• [time]
• [contract]
• [option]
• [promise]
• [offeree]
• [reasonable]
• [revoked]
• [contracts]
• [offeror]
• [person]
• [consideration]
• [example]
• [offers]
• [advertisement]

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