KI (1&2)

Federal

State/Local

____________

Judiciary

Court Structure

Authority

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UCC •  Comprehensive  Code  of  Commercial  Law •  Enacted  in  every  state  (except  Louisiana)

*Exam Tip*

___________________________________________

Basic Ks 101

________

Elements

Mutual Assent + Consideration

Basic Ks 101

________

Explained

Mutual Assent

Offer

__________

Acceptance

Subjective   Objective

INTENT held  by  parties

What  parties think  &  assume

Intent to Contract

“Meeting  of    the  Minds”

Objective Modern

Standard

RII  §24  –  “An  offer  is  the  manifestation  of                                                              willingness  to  enter  into  a  bargain…”   Definition

Elements

Manner of Agreement

Objective Mutual Assent ___________

Express K

Implied-in-Fact K

Ads

Standard

Elements

Methods

Uni K vs. Bi K

2-206

72 Hours

Silence

Silence as Acceptance

______________

Implied-in-Fact K Day Property

_________

Caton Property

Could  this  also   be  an  

Implied-­‐in-­‐Law  K?

Junk Mail

Rewards

Work hard, Be honest, Be respectful, Love learning.

_________

See you next week!

“The time is always right to do what is right”

- MLK Jr.