LEGL 4400 test 1
UCC
The Uniform Commercial Code; the sale of goods
Common Law
the sale of services or real estate
How can the law be used to our advantage?
Keep us out of trouble, certainty and predictability, learn how to work with
lawyers
Can legal advice be a competitive advantage?
YES
Are laws and ethics the same?
NO
restatements
under common law; what courts have previously stated but not actual law
, unilateral contract
promise in exchange for an act
bilateral contract
promise for a promise
executed contract
contract that has been fully performed
executory contract
contract not fully performed on both sides
expressed contract
a written or oral agreement in which all terms are explicitly stated
implied contract
a contract that comes about from the actions of the parties
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