Явно выраженный договор; подразумеваемый договор; лицо, по отношению к которому принято обязательство; кредитор по обязательству; лицо, принявшее на себя обязательство; должник по обязательству, дебитор; кредитор по договору; должник по договору; договор, не могущий быть принудительно осуществленным в исковом порядке; оспоримая сделка; ничтожная сделка.
Exercise 3. Consult recommended dictionaries and give words or phrases to the following definitions:
Возмездный договор; безвозмездный договор; публичный договор; предварительный договор; договор в пользу третьего лица; толкование договора; простая письменная форма договора.
Exercise 4. Be ready to talk on one of the following topics:
1. Identify the six elements of a contract.
2. Distinguish contracts from other agreements made between different parties.
3. Explain the nature of valid, void, voidable, and unenforceable contracts.
4. Contrast unilateral and bilateral contractual arrangements.
5. Outline the difference between express and implied contracts.
6. Contrast the nature of a formal contract with that of an informal contract.
7. Explain how executory contracts differ from executed contracts.
Exercise 5. Make up your own dialog on the case: In Kunian v. Development Corp. of America, the seller of plumbing and heating materials entered into an installment contract with the buyer. Several months later the buyer was $38,000 behind in payments for installments of goods delivered. After the seller demanded assurance of performance from the buyer, the buyer promised that he would pay the outstanding indebtedness if the seller would continue his performance. When a month passed and the buyer had made no further payments, the seller informed the buyer that no further deliveries would be made unless the buyer deposited in escrow a sufficient amount of cash to pay for the delivered goods. The court held that the seller had «reasonable ground for insecurity» and that his suspension of performance was justified.
Exercise 6. Resume in industry buzz:
Types of Ks
1. Express or Implied a. Express is statemts of mutual assent; willingness to enter into a K
b. Implied is no statements; conduct
2. Bilateral, Unilateral or Code a. Code is sale of goods & no bi/uni distinction b. Bilateral formed w/mutual promises of parties, perf. of both fully executory c. Unilateral promise 1 side & fully executed perf. the other (K no formed until fully executed 1 side)
3. Telling if Bilateral or Unilateral a. Unilateral if offer warns only accept by act or if public offer b. Bilateral always if asks for return promise c. Offer indifferent (can't tell if promise or perf. requested) MAJ it's bilateral
Unit 3 Offer and Acceptance Оферта и акцепт
Офертой (глава 28 ГК РФ) признается такое предложение, которое: а) должно быть достаточно определенным и выражать явное намерение лица заключить договор; б) должно содержать все существенные условия договора; в) должно быть обращено к одному или нескольким конкретным лицам. Акцептом признается согласие лица, которому адресована оферта, принять это предложение, причем не любое согласие, а лишь такое, которое является полным и безоговорочным. Акцептом считается также совершение лицом, получившим оферту, в срок, установленный для акцепта, действий по выполнению указанных в ней условий договора. Будучи полученными, оферта и акцепт порождают юридические последствия для совершивших их лиц.
List of key terms and word combinations:– acceptance – акцепт, акцептование
– cost-plus contract – договор на условиях оплаты фактических расходов с начислением определенного процента от этих расходов
– counteroffer – встречное предложение; контроферта
– current market price contract – договор на условиях оплаты по текущим рыночным ценам
– firm offer – предложение товара или ценных бумаг по твердой цене; твердое предложение
– invitation to trade – приглашение сделать оферту
– mirror image rule – правило зеркального отображения
– offer – предложение; оферта
– offeree – адресат оферты; лицо, которому делается предложение
– offerer – оферент; лицо, делающее предложение
– option contract – опционный контракт
– output contract – договор о продаже всей произведенной продукции
– public offer – оферта, обращенная к неопределенному кругу лиц
– rejection – отклонение, отказ
– requirements contract – контракт «на все потребности покупателя» (предусматривающий закупку покупателем только у одного поставщика)
– revocation – отмена, аннулирование; ревокация
The first element of a valid contract is the existence of an offer. An offer is a proposal made by one party to another indicating a willingness to enter into a contract. The person who makes an offer is called an offeror. The person to whom the offer is made is called the offeree. An offer is valid only if it has serious intent, has clear and reasonably definite terms, and has been communicated to the offeree.
An offer is invalid if it is made as an obvious joke, during an emotional outburst of rage or anger, or under circumstances that might convey a lack of serious intent. The offerer's words or actions must give the offeree assurance that a binding agreement is intended. Serious intent is determined by the offerer's words and actions and by what the offeree believed was intended by those words and actions.
The offerer's words must give the offeree assurance that a binding agreement is intended.
The terms of an offer must be sufficiently clear to remove any doubt about the contractual intentions of the offerer.
The communicated terms of an offer must be sufficiently clear to remove any doubt about the contractual intentions of the offerer. No valid offer will exist when terms are indefinite, inadequate, vague, or confusing.
In general, an offer should include points similar to those covered in a newspaper story – who, what, when, where, and how [much] – if it is to be clear, definite, and certain. In other words, the offer should identify the parties involved in the contract, the goods or services that will be the subject matter of the contract, the price the offerer is willing to pay or receive, and the time required for the performance of the contract.
Sometimes laws permit offers to omit certain information. They can state that even though one or more terms are left open a contract for sale does not fail for indefiniteness if the parties have intended to make a contract and there is a reasonably certain basis for giving an appropriate remedy. For example, cost-plus contracts, output contracts, requirements contracts, and current market price contracts are enforceable even though they are not complete in certain matters. A cost-plus contract does not include a final price. Instead, that price is determined by the cost of labor and materials plus an agreed percentage markup. An output contract is an agreement in which one party consents to sell to the second party all the goods that party makes in a given period of time. A requirements contract is an agreement in which one party agrees to buy all of the goods it needs from the second party. Finally, a current market price contract is an agreement in which prices are determined with reference to the market price of the goods on a specified date.