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Contracts I
Fall semester · Prof. Kim
- Offer & acceptance
- Consideration
- Remedies
The bargained-for exchange that makes a promise enforceable.
FROM: CONTRACTS OUTLINE · P. 14and class notes→
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Contracts
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Pre-Existing Duty
performing a duty you already owe is NOT consideration (Alaska Packers v. Domenico, the sailors’ mid-voyage raise)
common law: modification needs new consideration
exception: unanticipated circumstances + fair modification (Rest. 2d § 89, Angel v. Murray)
UCC § 2-209(1): no consideration needed to modify, policed by good faith instead
prof hint: classify goods vs. services FIRST, then pick the rule
IV. Pre-Existing Duty Rule
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