TIMELINE OF A CONTRACT
Output Contract
Requirement Contract
Firm Offer
Option Contract
Indefiniteness:
If indefiniteness,
then no offer, if
there is not
indefiniteness, then
there is an offer
Offer
Battle of the Forms
2-207
Counter-Offer
Promissory
Estoppel
Consideration
Moral Obligation
Pre-Existing Duty
Adequacy/Sufficiency
Illusory Promise
Statutes of the Frauds
Remedies
Remedies
Promissory
Estoppel
Acceptance
Mailbox Rule
Silence as Acceptance
Exceptions:
Death
Lapse of time
Rejection
Revocation