Common Law Contract Template

1. Definition of Contract
2. Applicable Law - Common Law.
A. Common law v UCC.
1) More Specific UCC requirements of a
merchant - to - merchant situation.

3. Contract Formation.
A. Offer.
1) Intent to Contract-Mutual Assent
a) Solicitations
b) Advertisements
2) Definite Terms Mutual Assent Defenses.
a) Cure for Indefinite Terms
i. Part Performance
ii. Agree to agree later.
B. Acceptance.
1) Rejection/Termination of Offer
2) Common Law Acceptance
a) Mirror Image Rule
b) Acceptance through Silence
3) Revocation of Offer
a) Irrevocable Offers
i. Part performance
ii. Standard Option Contract
4) Mail Box Rule
C. Consideration.
a) Bargained for Exchange.
i. Sham/Nominal Consideration.
b) Legal Detriment.
i. Illusory Promise.
Unfettered Right of Termination
c) Promissory Estoppel / Detrimental
Reliance

D. Modification
1) Common Law Modification
a) New consideration required
b) Accord & Satisfaction
c) Substituted Agreement
4. Statute of Frauds
A. *Land Contracts
1) Part Performance Exception
B. *One Year Rule
1) Full Performance by one Party
C. Suretyship
1) Main Purpose Rule Exception
D. Marriage
E. Satisfaction by SOF by Memorandum
5. Parol Evidence Rule
A. Traditional or Four Corners Rule
B. Modern or Corbin View
1) Total Integration v. *Partial Integration.
a) Merger Clause.
2) *Missing Terms.
6. Contract Defenses.
A. Mistake.
1) Misunderstanding
2) Unilateral mistake.
3) Mutual mistake.
B. Pressure
1) Duress
2) Fraud
3) Misrepresentation
C. Illegality
1) Unconscionability
2) Illegal
3) Capacity
7. Performance /Conditions
A. Unilateral v Bilateral Contract
B. Expressed Conditions
C. Constructive Conditions
D. Implied Conditions
E. Excuse of Conditions
1) Hindrance
2) Waiver
F. Discharge of Performance.
1) Impossibility of Performance.
2) Financial Impracticability.
3) Frustration of Purpose.
8. Breach of Contract Claim
A. Prospective Inability to Perform/Voluntary
Disablement

1) Right to Adequate Assurance of
Performance .

B. Anticipatory Repudiation.
1) Retraction or Repudiation
2) Mitigation of Damages
C. Substantial Performance
1) Material v. Minor Breach of Contract
2) Termination of Performance for Material
Breach.

9. Remedies
A. Common Law Remedies
1) Mitigation.
2) Expectation Damages.
3) Liquidated Damages.
a) Reasonableness of amount
4) Consequential Damages.
a) Arise naturally
b) .Remote or unusual consequences.
5) Incidental Damages
6) Other Remedies
a) Reliance Interests
b) Recission/discharge of Contract
c) Specific Performance
d) Reformation
10. Third Party Issues
A. Third Party Beneficiary
1) Intended/Incidental Beneficiary
2) Vesting of Rights
3) Rights to Sue
B. Assignment.
1) Elements of Assignment
2) Effect of Assignment
3) Limitations on Assignments
4) Revocability of Assignments
5) Right to Sue
C. Delegation
1) Elements of Delegation
2) Limitations on Delegations
3) Right to Sue
4) Novation.
11. Quasi-Contract
A. Traditional (Majority) Rule.
1) No Recovery for Breaching Party
B. Minority Rule and Modern Trend.
1) For the Plaintiff
a) Restitution Benefit Conferred. Damage
Caused

2) For the Defendant
a) Quantum Meruit
i. Restitution Recovery in Quasi-
Contract.