Most Tested MBE Contracts Topics | BarPrepPlay
This page ranks the contracts issues that repeatedly decide MBE performance so your review time goes to formation, UCC crossover, remedies, and classic exam traps first.
This page ranks the contracts issues that repeatedly decide MBE performance so your review time goes to formation, UCC crossover, remedies, and classic exam traps first.
This page ranks the contracts issues that repeatedly decide MBE performance so your review time goes to formation, UCC crossover, remedies, and classic exam traps first.
Very High frequency
OFFER: Manifestation of willingness to enter bargain, creating power of acceptance. Ads usually invitations unless specific (reward, first-come). TERMINATION: Rejection, counteroffer, lapse, revocation (effective on receipt), death. FIRM OFFER (UCC): Merchant's signed written offer to keep open is irrevocable up to 3 months without consideration. OPTION: Irrevocable if supported by consideration. ACCEPTANCE: Mirror image (CL) vs battle of forms (UCC 2-207). MAILBOX RULE: Acceptance effective on dispatch; rejection/revocation effective on receipt. Doesn't apply to options or if offer says otherwise.
HYPO: Seller offers to sell goods for $5,000. Buyer mails acceptance Monday. Seller mails revocation Monday (before receiving acceptance). Buyer receives revocation Tuesday. Seller receives acceptance Wednesday. Contract? ANALYSIS: Apply MAILBOX RULE. Acceptance is effective when DISPATCHED (Monday). Revocation is effective when RECEIVED (Tuesday). Acceptance was effective BEFORE revocation was received. RESULT: Contract formed Monday when acceptance was mailed. Seller's revocation came too late.
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