4017764
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Mind Map by Natalie Auell, updated more than 1 year ago
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Chapter 20: Formation of Sales and
Lease Contracts
- Comprehensive
Coverage of
UCC
- Article II
- Governs sales contracts
- does not
deal with real
estate,
services or
intangible
property like
stocks/bonds
- if subj
matter of
a dispute
is goods
the UCC
governs.
if real
estate or
services,
common
law
applies
- if subj
matter of
a dispute
is goods
the UCC
governs.
if real
estate or
services,
common
law
applies
- rules can
vary
depending
of whether
buyer/seller
is merchant
- does not
deal with real
estate,
services or
intangible
property like
stocks/bonds
- Governs sales contracts
- Article II-A
- Lease Agreements
- a lessor's
and lessee's
bargain w/
respect to
lease of
goods
- applies to all
types of goods,
unless special
type
- applies to all
types of goods,
unless special
type
- Consumer Leases
- lessor
regularly
engages
in
leas/sell
biz
- lessee who
leases the
goods
"primarily
for
personal,
family or
household
purpose
- Total
lease
paymts
>$25k
- lessor
regularly
engages
in
leas/sell
biz
- Finance Leases
- involves:
lessor,
lessee,
supplier
- lessor buys/leases
goods from supplier,
then leases/subleases
them to lessee
- lessor is financing
the transaction,
simply
- lessor is financing
the transaction,
simply
- involves:
lessor,
lessee,
supplier
- a lessor's
and lessee's
bargain w/
respect to
lease of
goods
- Lease Agreements
- Article II
- Offer
- Open Terms
- Parties intended to make contract
- Reasonably
certain
basis for
court to
grant
appropriate
remedy
- Open
Price
Open
Payment
Open
Delivery
- Parties intended to make contract
- Requirements/Output
Contracts
- Merch FIrm Offer
- 1. Written
2. Signed
by offeror
- 1. Written
2. Signed
by offeror
- Open Terms
- Acceptance
- seasonably
- Com of Accept.
- Add. Terms
- When 1 or both are non-merch
- when both are merch.
- When 1 or both are non-merch
- seasonably
- Consideration
- Statute of Frauds
- Parole Evidence
- Unconsionability
- Special Provisions in
International Contracts
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