BAR/BRI Bar Review New York Course Contracts/Sales/Equity 1 NEW YORK CONTRACTS (INCLUDING ARTICLE 2 SALES & ARTICLE 2A LEASES) 1. APPLICABLE LAW 2. CONTRACT FORMATION 3. STATUTE OF FRAUDS (needs writing) 4. CONTRACT TERMS 5. PERFORMANCE 6. EXCUSES FOR NON-PERFORMANCE 7. REMEDIES 8. THIRD-PARTY PROBLEMS (i.e. 3rd party beneficiary; delegation of power; assignment) KEY ISSUE #1: APPLICABLE LAW A. The Multistate Bar Exam tests on 2 kinds of contract law: the common law of contracts (75% of the questions), & Article 2 of the Uniform Commercial Code (UCC) (25% of the questions). How do you know which applies? Article 2 applies to only to a sale of goods: "Goods" are moveable, personal property. NOT land; NOT services; NOT a loan; etc. The identity of the buyer and seller (corporation, merchant, etc.) is irrelevant. The value of the goods is also irrelevant for the applicability of Article 2 of the UCC.The common law applies to all other contracts. In case of mixed contracts (both goods and non-goods) me need to determine which component is the dominant and apply the body of law governing it. NY distinction: In NY writing serves as substitute for consideration. B. The New York part of the bar exam tests on 3 bodies of law: (1) the common law of contracts with New York variations; (2) Article 2 of the UCC for sales of goods; & (3) Article 2A of the UCC for leases of goods(this is not tested in the MBE since most of the states still haven't adopted it).NY distinction: In NY Article 2A of the UCC applies to a lease of goods. BAR/BRI Bar Review New York Course Contracts/Sales/Equity 2 KEY ISSUE #2: CONTRACT FORMATION VOCABULARY A. Contract: A legally enforceable agreement. Not every agree...
