Daniel Desario Attorney
- 1. CONTRACTSCONTRACTS QUICK SUBSTANTIVEQUICK SUBSTANTIVE REVIEW OUTLINEREVIEW OUTLINE FormationFormation
- 2. FORMATIONFORMATION IN GENERALIN GENERAL The parties must form an agreement byThe parties must form an agreement by consenting to the same terms at the sameconsenting to the same terms at the same time. They accomplish this by the processtime. They accomplish this by the process of offer and acceptance. Once there is anof offer and acceptance. Once there is an offer and an acceptance, the parties haveoffer and an acceptance, the parties have arrived at mutual assent.arrived at mutual assent.
- 3. OFFEROFFER An offer is the manifestation of willingness toAn offer is the manifestation of willingness to enter into a bargain, so made as to justifyenter into a bargain, so made as to justify a reasonable person in the position of thea reasonable person in the position of the offeree in understanding that her assent toofferee in understanding that her assent to that bargain is invited and will conclude it.that bargain is invited and will conclude it.
- 4. INTENTINTENT Intent must be manifested through suchIntent must be manifested through such words or acts that a reasonable personwords or acts that a reasonable person would believe an offer is being made.would believe an offer is being made. Lucy v. Zehmer, 196 Va. 493, 84 S.E.2dLucy v. Zehmer, 196 Va. 493, 84 S.E.2d 516 (1954).516 (1954).
- 5. ESSENTIAL TERMS OF ANESSENTIAL TERMS OF AN OFFER (COMMON LAW)OFFER (COMMON LAW) 1.1. Identification of the partiesIdentification of the parties 2.2. Description of the subject matterDescription of the subject matter 3.3. Time for performanceTime for performance 4.4. PricePrice
- 6. Formation (contโd)Formation (contโd) Note:Note: ๏ฎ Silence on some of the terms above maySilence on some of the terms above may be interpreted to mean that reasonablebe interpreted to mean that reasonable terms may be determined at a later date.terms may be determined at a later date. ๏ฎ (Article 2 of the UCC, which governs the(Article 2 of the UCC, which governs the sale of goods only requires that quantitysale of goods only requires that quantity be an essential term of the contract โ allbe an essential term of the contract โ all other terms will be filled in appropriately.)other terms will be filled in appropriately.)
- 7. A sample from a new innovative California Bar PreparationA sample from a new innovative California Bar Preparation program coming this Fallprogram coming this Fall Daniel J. DeSario, Esq.Daniel J. DeSario, Esq. 323-655-6538323-655-6538