New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Chapter 2 Notes

by: Amber Sharpnack

Chapter 2 Notes PLA 3428

Amber Sharpnack
GPA 3.5

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

Here are three pages of notes for sixty-eight pages of textbook reading.
Professor Paul Asfour
Class Notes
contracts, Law, Legal Studies
25 ?




Popular in Contracts

Popular in Department

This 4 page Class Notes was uploaded by Amber Sharpnack on Friday September 9, 2016. The Class Notes belongs to PLA 3428 at Florida Gulf Coast University taught by Professor Paul Asfour in Fall 2016. Since its upload, it has received 8 views.


Reviews for Chapter 2 Notes


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 09/09/16
Contracts PLA 3428 – CRN 80818 Professor Paul Asfour Chapter 2: The Offer Phase Offer is made when offeror (promisor) creates the offeree (promisee) to accept the offer thereby forming a contract. The power is created when the offeror/promisor manifests a willingness to enter into a contract by inviting the promise/offeree to agree to terms. Manifestation = Demonstration of willingness Reasonable Person: a hypothetical, rational person who can objectively interpret a set of facts.  Not one of the contracting parties Reasonable Person Standard: objective rather than standard. The inquiry is how a reasonable person, having observed transaction, perceived it.  Not whether the parties mentally viewed the transaction in a common fashion  Used in modern contracts law. Objective Standard: the reasonable person’s standard. Based on manifestations that could easily be interpreted by a third party. Subjective Standard: refers to a party’s thinking or mental state rather than manifestations. Commonly referred to as meeting of the minds. Meeting of the Minds: outdated phrase that refers to the subjective theory of contract law. Reliance: may be a cause of action (the basis of a claim), remedy (relief sought) for a breach of contract or a reliance cause of action, or a tool to circumvent an obstacle to a breach.  Based on the aggrieve party reasonably relying on the promisor. Reliance Cause of Action: uses reliance as the basis of the plaintiff’s complaint (or claim). Promisor doesn’t become an offeror until the elements of offer are satisfied. Promisor’s promise & the consideration for the promisor’s promise. Offer for bilateral (promise) & unilateral (performance) contract. Preliminary Negotiation: include all discussions of the parties that occur prior to the offer. Auction with Reserve: the auctioneer may withdraw the property at any time until the announcement of completion of sale.  Potential bidders are offerors Auction without reserve: auctioneer is the offeror and the bidders are the offerees. Promise: an unequivocal assurance that something will or will not be done. Illusory Promise: statement that is less than a commitment to do or refrain from doing something.  A misnomer because it is not a promise  Phrasing of may vs. will Indefinite Promise: a statement that appears to be a promise but omits terms essential to enable the courts to determine an appropriate remedy in the event of a “promise” breached.  Misnomer Gap Fillers: contract terms supplied by Article 2 of the UCC (sales of goods) that supplement the express terms of the contracting parties. Consideration for the promisor’s Promise: the “price” sought by the promisor for their promise. Sham Consideration: feigned or pretended consideration. Induce and Entice Consideration Problems: 1. Past Consideration: timing issue. 2. Preexisting Duty: that which is already owed to a party before a promise is made to perform that duty to that party. Condition: a contingency; will occur only in situations when the offer is for a unilateral contract. Classical Doctrine:  A written promise signed by the person promising that is not unenforceable for lack of consideration also if the writing contains an express statement that the signer intends to be legally bound. Reliance as an Alternative to Consideration Four Elements of Reliance: 1. Promise by the promisor. 2. Promisor should reasonably expect the promise to induce action or forbearance on the promisee’s part. 3. Promise does induce such action or forbearance. 4. Injustice can be avoided only by enforcement of the promise. Restatement of Contracts makes the point that the “remedy granted for breach may be limited as justice requires.” Unequivocal Assurance: no contract caliber promise. Restitution Cause of Action: encompass all actions based on unjust enrichment.  Action in quasi-contract.  Implied contract by law  Constructive contract  Assumpist  Quantum merit: a common court (standard allegation) in an action of assumpsit for work and labor.  Quantum Valebant: a common court (standard allegation) in an action of assumpsit for goods sold and delivered. Restitution Action requires:  Benefit and enrichment conferred by one party  Retention of the benefit without compensating the party conferring the benefit would be unjust.


Buy Material

Are you sure you want to buy this material for

25 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Bentley McCaw University of Florida

"I was shooting for a perfect 4.0 GPA this semester. Having StudySoup as a study aid was critical to helping me achieve my goal...and I nailed it!"

Anthony Lee UC Santa Barbara

"I bought an awesome study guide, which helped me get an A in my Math 34B class this quarter!"

Bentley McCaw University of Florida

"I was shooting for a perfect 4.0 GPA this semester. Having StudySoup as a study aid was critical to helping me achieve my goal...and I nailed it!"


"Their 'Elite Notetakers' are making over $1,200/month in sales by creating high quality content that helps their classmates in a time of need."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.