Based on this week and last week’s learning segments, create a writing assignment answering the following questions.
- Analyze the specific element differences between common law contracts and contracts under the UCC.
- What elements are similar?
- What elements are different?
- How do these differences affect the contracts and breaches?
- Provide an example of a common law contract and a contract under the UCC including all elements.
Support your answer with legal concepts from this week’s learning. Be sure to provide in-text citations in-textweek’s and source information in APA format including a working URL.
Week 5 Writing Assignment
Analyze the specific element differences between common law contracts and contracts under the UCC.
Based on the contract when it comes to understanding the two or more parties agree with the basic circumstances, as it offers to get accepted. Hence, it relates to the two parties having benefited from the option of the agreement. Thus, Common law was adopted by all the judges who wanted to take up the decision, based on the principle of taking up some cases that used the same judge with a similar case. Thus, these categories are undermined by a common law that actually includes software, copyrights, land sales, trademarks, parents as well and real estate among others.
Secondly, a Uniform Commercial Code, is written with the format, it is defined with the set of laws which is used is made across the nation, especially this is thrived out of the employment standard with a regulation based on the financial agreements to develop a business. Thus, it is established to standardize all forms of law, irrespective of United States, especially if this is based on the sales of mainly tangible items. Moreover, this is established in order to stabilize all the legal actions taken prior to United States law, which is especially related to selling all the goods and the tangible sites before. Thus, under the law, the buyer has the legal right concernin all the items and the tangible goods, as it is acquired from all the sellers before they are set forth to the actual buying strategy or after delivery. Thus, UCC contracts mainly allow the counter-offer to give details which is well included about an original contract while creating a binding in terms of the dependence related to specifications (Hunter, 2017).
What elements are similar?
To find out the similarities between the Common law and Uniform Commercial Code contract, there are mainly differentiations rather than similarities. Moreover, based on the research I would state that similar elements between Common law contracts and the contracts which are often covered under the Uniform Commercial Code as a result of both are to be covered under the Statute of Frauds. Thus, it is primarily related to the sales which are certainly based on the goods are worth totaling about an amount of $500 or often more, under the contract related to an enforceable method of writing. Thus, another similarity is based on the revocation related to the offers, while Common law contracts fetch about a Common law contract which is based on the offers to deal with revocation, as it related with revocation offers, under the Common law by the offeror or any third party to practically make a form of communication (Cheeseman, 2016).
Likewise, in the case of the offeror who can revoke on the said offeror under the terms of UCC, by any chance of things to be accepted, as it occurs, while as long as there is no additional option which can offer such a time limit. On the other hand, the most significant similarity between Common law and the Uniform Commercial Code is that these two types of contracts it is mainly based on the formation of the sales and in case of the contracts which is done in case of the acceptance. While in case of both types are actually considered a contract where it offeree sends out an acceptance, so as soon as it is delivered to the post office, there is an existence based on the valid contract.
What elements are different?
There is a difference between the Common Law of Contract and the Uniform Commercial Code contract. Thus, I think one of the major reasons behind this is its mirror image. This is associated with the rule which is stated to be granted under the states in which offerees are replied to actually offer anything but on its original aspect make an offer that is required to be treated as a rejection oriented with a counteroffe. Moreover, this is based on the related common law contracts and it does not relate to the UCC contracts. This is because the UCC contracts mainly allow a clear room for all the required modifications or making a change so that this can act like a change in order to express the terms and their acceptance (Hunter, 2017). Therefore, one of the largest forms is mainly related to the differences that are made between the two types of contracts as it mainly comes forward to the open terms and the given condition. Therefore, the items have been left open, for a particular purpose. This is because here the purpose does not rely upon killing anyone on a particular contract. Therefore it mainly works with a gap-filling strategy, which mainly synchronizes the doctrine to address large terms that are inserted through the UCC terms to read about the variables. Therefore, this is how a way leads to a deal that can be still considered without having an explicit list for everyone to get a single detail, which can be applied to all the UCC contracts and out in case of the applied Common law contracts.
Under the UCC, based on the particular agreement that must be written, both parties can prove the document that shows the agreement. Thus, mutual understanding is based on the significant form of action taken upon as it is reliable with an action other hand words actions mainly work. Thus, in the case of the common law contracts, might be formal, as it is necessary to bind up in certain situations under the cases with legal protections with legality (Cheeseman, 2016). Thus, it is considered to be non-compete based on an agreement, especially based on the employment scenarios, where an employee decides to make a termination related to the contract, and the employer mainly ensures an employee related to sign an agreement, hence it does not compete with the different Company Standards.
How do these differences affect the contracts and breaches?
The differences that affect the element related to the content are undertaken by the consideration, the offer, or an acceptance between the two parties. Therefore related to the legal process this might be considered to be too expensive for an individual to breach the formed contract. Hence, this actually limits an individual from gettin into an agreement. As argued by Cheeseman, (2016) under UCC, the buyer is required to get hold of the damages relevant to the breached contract which is equal to the take up the measures between the market area and the price which is understated by the contract price. Common law contract is formed as it requires to be accepted with an original offer while considering a modification which often leads to rejection of a counteroffer. Thus, this happens when the terms are accepted based on the sale which is switched between the two parties. For instance, it is when the offeree has to make a change in terms of the original offer related to having a basic amount that he has to offer while it comes from the offeror related to the created situation. On the other hand, the UCC contract law focuses on the contract to make use of the open terms as it is related to an open price in terms of the implication made that relies upon making a payment with a reasonable price which shall be given in fair market with a valuable price with its goods.
Provide an example of a common law contract and a contract under the UCC including all elements.
The example which can be considered under the common law contract is George who has tried to sell his bike to Max at $400. In this case example, this is true that Max and George meet each other and then the goods are shown to each other, and an original form is established with the significant written documents of the offeror. Thus, made an offer of sale to Max on the grounds of giving out 400 dollars. Therefore, in this example, this is true that Max has to inspect his good, from his owner, to lean about any volition, made without any future changes which are done in terms of the offer as it is accepted in terms of the offeree. Therefore, no such charges are to be filed, or any further omission or any terms are to be specifically stated. Moreover, under the UCC contracts is relevant to find out a similarity to make some changes, as it should be recommended with a variety of written patterns and understanding. Thus, in this case, the same scenarios, are though, considered monetarily, to be above the payment of 500 dollars. This is considered for both the parties who agree to the general terms under the contract, with an exact binding formed by the contract that openness in these terms. Therefore, in this case, Max seemed to be unsure about when he could take the receipt for the goods, as well as they undergo a contract where he is already paid. Thus, in his terms, I would mention a recommended contract, which requires it to be found in a written format. Thus, in the case of this scenario which is based on the binding contracts, Max relies upon the contract which was done in terms of the open delivery terms, therefore, in case of the same case, which is relevant to an agreement made against the monetary exchange or any goods which are exchanged, like it is based on an open time terms valuation. Therefore, these are the changes that are required to be followed on a regular note, just to ensure the constituent factors, which are invalid, are related to a contract undertaken by the common law contracts. Hus, this facilitates with the UCC as it is just to make a change before a modification is created with an effective valid notion, a contact, or found in the form of an offer.
Cheeseman, H. (2016). Business law: Legal environment, online commerce, business ethics, and international issues (Ninth ed.). Prentice Hall.
Hunter, H. (2017). Modern law of contracts.
Legalthree.com (2013) The UCC and Restatement Second of Contracts (1L). (2013, October, 22). Retrieved from http://legalthree.com/legal-news/contract-generally-the-ucc-and-restatement-second-of-contracts-1l/ [Retrieved on September 20, 2022]