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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......

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

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