REG — Quick Sheet
Business Law: Contracts
Read time: ~5 minutes
One-minute revision
- Goods → UCC Art. 2; services/real estate → common law; mixed → whichever predominates
- Common law acceptance must mirror the offer; UCC allows additional terms between merchants
- UCC modification needs no new consideration; common law modification does
- Mailbox rule: acceptance effective on dispatch; everything else on receipt
- Statute of Frauds = MY LEGS (Marriage, Year, Land, Executor, Goods ≥$500, Suretyship)
- Specific performance: unique goods & real estate, never personal services
- Fraud/duress → voidable; illegal purpose → void