A written contract may be modified orally, despite a written contract requiring modifications to be in writing. The oral modification is an oral waiver of the requirement. EXCEPT: UCC says that oral modification of a contract that expressly requires modification in writing is not enforceable unless the aggrieved party has materially changed position in reliance on the oral modification.
When there is a contract for construction of a new building, and the first attempt is destroyed by fire, the builder is not excused from starting over. Contractor bears risk of loss until completion. The rule for repair is the opposite.
Instead of illusory contract, look for option/offer (even if not supported by consideration) that is not revoked prior to acceptance, e.g. by tendering the purchase price.
UCC: If seller acts in bad faith in setting a price term, buyer can set reasonable price.
UCC: Specific performance is authorized in favor of the buyer when the goods are unique.
Equal dignity rule: agency agreement must be in writing to bind principal on a contract covered by the statute of frauds.
Solving an obstacle to completion of a job is not a legal consideration. An attempt to resolve a bona fide dispute is.
Look for consideration substitute based on change in position in reliance... promissory estoppel.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment