Restatements

Created by kjryan1

§ 1. Contract defined
promise or set of promises for the breach of which law gives a remedy

1/21

TermDefinition
§ 1. Contract defined
promise or set of promises for the breach of which law gives a remedy
§ 3. Bargain defined
an agreement to exchange promises or to exchange a promise for a performance or to exchange performances
§4. How a promise may be made
in words either written or oral, or inferred wholly or partly from conduct
§17. Requirement of a bargain
there is a manifestation to the exchange of mutual assent
§18. Manifestation of mutual assent
requires that each party either make a promise or begin or render a performance
§19. Conduct as manifestation of assent
may be made wholly or partly by written or spoken words or other acts or failure to act; conduct of a party is no effective unless he intends to engage in the conduct or knows the other party may infer that he assents from his conduct; conduct may manifest assent even if he doesn't assent
§20. Effect of misunderstanding
no manifestation of mutual assent if parties attach materially different meanings to their manifestations; and the manifestations of the parties are operative in accordance with the meaning attached to them by one of the parties
§21. Intention to be legally bound
a manifestation of intention that a promise shall not affect legal relations may prevent the formation of a contract
§22. Mode of assent: Offer & Acceptance
proposal by one party followed by acceptance of another party or parties; may be made even if neither can be identified and even though the moment of formation cannot be determined
§24. Offer defined
manifestation of willingness to enter into a bargain, made so other party understands there will be a contract if he assents
§26. Preliminary negotiations
manifestation of willingness to enter into a bargain is not an offer if the person whom is addressed knows or has reason to know that the person making it doesn't intend to conclude a bargain until he's made a further manifestation of assent
§27. Existence of contract where written memorial is contemplated
if you have formal written offer, it seems to be past preliminary negotiations
§29. To whom an offer is addressed
intention of the offeror determines the person in whom it's created a power of acceptance; offer may create a power of acceptance in a specified person or persons; offer can only be accepted by the person(s) it is intended for
§23. Necessity that manifestations have reference to each other
essential to a bargain that each party manifests assent with reference to the manifestation of the other
§30. Form of acceptance invited
an offer may be accepted by an affirmative answer in words, by performing or refraining from performing specified act, or may empower the offeree to make a selection of terms in his acceptance; unless specified, an offer is accepted in any manner reasonable
§32. Invitation of a promise or performance
in case of doubt, an offer is interpreted as inviting the offeree to accept by either promising to perform what offer requests, or by rendering the performance as the offeree chooses
§50. Acceptance of offer defined; acceptance by performance; acceptance by promise
acceptance of an offer is a manifestation of mutual assent to the terms of the offer; can accept by performance (unilateral contract) or by a return promise (bilateral contract)
§51. Effect of part performance without knowledge of offer
offeree that has learned of an offer after performing part of it can accept by completing the performance
§52. Who may accept an offer
accepted by only to whom offer is addressed
§53. Acceptance by performance; manifestation of intention not to accept
offer can be accepted by rendering of a performance only if offer accepts; not accepted if told within reasonable amount of time by offeree; not accepted if offeree manifests intention not to accept before offeror performs promise