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Offer: The offeror promises the offeree something in exchange for the offerees promise to do or not to do something.
Acceptance: The offeree gives the offeror whatever was requested, such as a promise to do or not to do something.
Consideration: The consideration is whatever each party brings to the table in the bargained-for exchange.
An agreement concerning real estate An agreement to rent real property for longer than a year An agreement that by its terms cant be performed within a year from the making An agreement to answer for the duty of another An agreement for the sale of goods for $500 or more
If an agreement is within the statute, look for evidence of a writing signed by the person against whom enforcement is sought. If you dont find a sufficient writing, look for an exception to the statute.
Causation: The plaintiff must prove that the breach caused the loss. Certainty: The plaintiff must prove the amount of damages to a reasonable certainty. Foreseeability (the Hadley rule): The plaintiff can recover only the losses that the defendant, at the time the parties made the contract, would reasonably have known would result from the breach.
Mitigation: The plaintiff must make reasonable efforts to minimize the cost of the breach.
Express: An express condition, which usually uses words like if, is stated in the contract. Implied: An implied condition is found by the court. The most common implied condition is the performance of a party. Thus, a party may claim that it doesnt have to perform because the other party didnt perform.