Contracts: Magic Memory Outline

Our topical Magic Memory Outlines are templates which students use to create their own personal outlines of the subjects. You summarize and synthesize the textual material in your own words. This forces you to capture the essence of the text and transfers the information from the book to your mind. For students who have prepared outlines to condense vast amounts of material in law school, these templates are similar and extremely effective. You can make outlines as elaborate and comprehensive as you wish since, in a word processing file, you can enlarge the space provided for your own notes. An example follows.

MAGIC MEMORY OUTLINE EXAMPLE

PRIMER SERIES MBE REVIEW

VOLUME 1 - CHAPTER 1 - CONTRACTS

Magic Memory Outline™

BLANK (as in the text)
WITH STUDENT SUMMARY
I. INTRODUCTION I. INTRODUCTION - OACLLS VIPR TAD - Common law or UCC; sometimes crossover w/Torts, Con Law, & Property
  A. MBE Exam Coverage  A. MBE Exam Coverage
     1. Weight and Format     1. Weight and Format - 34 of 200 questions; 50% covers offer, acceptance & defenses
     2. Testing Areas     2. Testing Areas - 75% common law, 25% UCC (note areas where common law and UCC differ
     3. Requirements     3. Requirements - “will claim prevail?” or “what is best/worst argument for recovery?” or “will claim succeed/fail if x does/does not occur?”
  B. Approach   B. Approach - note words in quotation marks and single topic questions
     1. Conclusion and Conditional Modifiers     1. Conclusion and Conditional Modifiers - reasoning is more important than conclusion; note modifiers
     2. Preferred Result     2. Preferred Result - all else being equal, odds favor K exists
  C. Overall Common Law Memory Ladder Acronym   C. Overall Memory Ladder Acronym - OACLLS VIPR TAD
  D. Common Law v. UCC Distinction   D. Common Law v. UCC Distinction - identify the governing law in first sentence of answer
     1. UCC Intention of Reasonableness      1. UCC Intention of Reasonableness - requires less precision
     2. Application     2. Application - does UCC or common law apply?
      a. Common Law - SIR      a. Common Law - SIR - real estate, professional services, construction, and personal services
      b. Goods      b. UCC - sale of “goods” - movable items
      c. Distinction      c. Distinction - can be subtle - book sale & repair
      d. Mixed Contract      d. Mixed Contract - predominate factor for K governs
      e. Examples      e. Examples - computer + service K=UCC; construction materials + labor=Common Law
    3. UCC Default Provisions    3. UCC Default Provisions - UCC default provisions fill gaps
    4. Duty to Communicate    4. Duty to Communicate - UCC may impose; none under common law
    5. Merchant v. Casual Party    5. Merchant v. Casual Party - special provisions if deals in goods or is expert; usually seller M
    6. Application by Analogy    6. Application by Analogy - good faith and duty to mitigate damages
  E. Express or Implied  E. Express or Implied
    1. Express Contract    1. Express Contract - oral or written agreement
    2. Implied Contract    2. Implied Contract - necessary intent exhibited by actions of parties
      a. Implied in Fact      a. Implied in Fact - real contract but no agreement on price/fee
      b. Implied in Law      b. Implied in Law - avoid unjust enrichment, quasi contract, Quantum Meruit
  F. Acceptance by Promise or Act  F. Acceptance by Promise or Act
    1. Bilateral    1. Bilateral - promisor seeking a return promise from promisee, both promises enforceable
    2. Unilateral    2. Unilateral - seeking performance of the act required, example reward offer

The following is the actual Magic Memory Outline from the MBE Contract chapter.

RIGOS PRIMER SERIES REVIEW

MBE REVIEW - CHAPTER 1

CONTRACT AND UCC SALES ARTICLE 2

Magic Memory Outline

I.  INTRODUCTION
    A.  MBE Exam Coverage
        1.  Weight and Format
        2.  Testing Areas
        3.  Requirements
    B.  Approach
        1.  Conclusion and Conditional Modifiers
        2.  Preferred Result
    C.  Overall Common Law Memory Ladder Acronym
    D.  Common Law v. UCC Distinction
        1.  UCC Intention of Reasonableness
        2.  Application
            a.  Common Law - SIR
            b.  Goods
            c.  Distinction
            d.  Mixed Contract
            e.  Examples
        3.  UCC Default Provisions
        4.  Duty to Communicate
        5.  Merchant v. Casual Party
        6.  Application by Analogy
    E.  Express or Implied
        1.  Express Contract
        2.  Implied Contract
            a.  Implied in Fact
            b.  Implied in Law
    F.  Acceptance by Promise or Act
        1.  Bilateral
        2.  Unilateral
    G.  Executory Contracts
    H.  Divisible Contracts

II.  OFFER
    A.  Definiteness
        1.  Objective Test
        2.  Examples
    B.  Open Items
        1.  Common Law
        2.  UCC Missing Term Treatment
            a.  CPU Order of Imposing Terms
            b.  Result
    C.  Revocability
        1.  Common Law
        2.  Option With Consideration (Option Contract)
        3.  UCC Firm Offer
            a.  Irrevocability
            b.  Rejection and Subsequent Acceptance
    D.  Termination
        1.  Usual Situations
        2.  Refusal or Rejection
    E.  Contractor and Subcontractor Rules
        1.  Bids by Subcontractors
        2.  Contract Formation
        3.  Low or Suspect Bids

III.  ACCEPTANCE
    A.  In General
        1.  Intended Offeree
        2.  Terms
            a.  Stipulated in Offer
            b.  Stipulated in Acceptance
            c.  In Neither Offer or Acceptance
        3.  Knowledge Necessary
        4.  Objective Standard
        5.  Silence
            a.  Exception
            b.  Unsolicited Items
        6.  Counteroffer
    B.  Unilateral Contract
        1.  Offer Revocation - Common Law
        2.  UCC Bilateral Acceptance
        3.  UCC Notification Necessary
        4.  Reward Offers
    C.  Output and Requirement Contracts
        1.  Mechanism
        2.  Responsibilities of Parties
    D.  Sales by Auction
        1.  With Reserve
        2.  Without Reserve
    E.  Conditional or Additional Items
        1.  Common Law
        2.  Mere Inquiry
        3.  Acceptance With a Demand for Different Terms
        4.  Request for Additional Terms
        5.  UCC Treatment
            a.  Minor Additional Terms
            b.  Merchant to Merchant
            c.  Materially Alter Bargain
                (1)  Examples
                (2)  Treatment
    F.  Conflicting Terms
        1.  Common Law
        2.  UCC
    G.  Effective Date
        1.  Revocation by Offeror
        2.  Mailbox Rule
            a.  Acceptance is Effective on Dispatch
            b.  Offeror’s Revocation or Unawareness
            c.  Unauthorized Means/Options
        3.  Rejection Exception
        4.  UCC Treatment
        5.  3-Day Cooling-Off Rule
    H.  Approach to Offer-Acceptance Cross Problem
        1.  Skeleton for Analysis
        2.  Example
    I.  Formation Checklist

IV.  CONSIDERATION
      A.  In General
        1.  Legal Sufficiency
            a.  Test
            b.  Unilateral Contract
        2.  Mutuality, Gifts, and Past Consideration
        3.  Illusory Promises and Aleatory Contracts
    B.  Pre-Existing Duty Rule
        1.  Exam Questions
        2.  Exceptions
    C.  Partial Payment Rule
        1.  Unliquidated Obligation
        2.  Acceptance
    D.  Surrendering a Legal Claim
    E.  Promissory Estoppel
        1.  Foreseeable Reliance Required
        2.  Examples
    F.  UCC Modifications
        1.  Additional Amount Promise
        2.  In Good Faith Required
    G.  Third Party Beneficiaries