This lesson deals with the formation of contracts under Article 2 of the Uniform Commercial Code (excluding 2-207 issues). At common law, a contract is formed often by the showing of mutual assent plus a consideration. The rule is reversed under the Uniform Commercial Code, however. Under UCC 2-204, a contract can be formed in any manner sufficient to show agreement, even if the parties leave open terms. This lesson will explore the effect of the difference in formation between common law and Article 2. You can work this lesson as an introduction to the formation of contracts under the UCC or as a review. The material in this lesson may be a more in-depth study of Article 2 than some first year contracts courses require. However, prior to working this lesson, you should have an understanding of the common law on offer, acceptance and mutual assent.
via Formation of Contracts under UCC Article 2 | Center for Computer-Assisted Legal Instruction.
This update supplements eLangdell Contracts, Uncategorized , page:
