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Contract Law
chapter 1
22
Law
Graduate
09/20/2011

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Term
choice of law
Definition
Term
federal preemption doctrine
Definition
The doctrine derived from the Supremacy Clause of the United States. The Constitution and the laws of the United States shall be supreme. Any Federal Law takes precedence over any conflicting state law.
Term
forum state
Definition
the state where the case is filed and the state where the case is being heard.
Term
hybrid transactions
Definition
contracts that include both the sale of goods and the sale of services
Term
party autonomy rule
Definition
contracting parties can choose the law of a particular state to govern their contractual rights and duties.
Term
predominant factor test
Definition
the test used to resolve whether a hybrid transaction should be treated under Article 2 of the UCC (sale of goods) or under the common law (sale of service) If the sale predominates than UCC, Service than common law.
Term
restatements of the law
Definition
The ALI (American Law Institute) attempt to codify the common law of various states into black letter law. Also present their points on what the law should be
Term
CISG
Definition
The United Nations Convention on Contracts for the International Sale of Goods. Regulates the transactions of international sale of goods for countries that:
. sale is between parties whose places of business are in different countries.
. The states are contracting states under CISG Article 1
. The contracting parties are permitted to opt out of CISG under Article 6.
Term
New York Convention of 1958
Definition
a foreign arbitration award is more easily enforced than a foreign court judgment.
Term
The law of contracts is generally a creation of the state
Definition
true
Term
Common Law System
Definition
Only 2% of the worlds population lives in a common law system. Only two of 27 EU members are common law: United Kingdom and Ireland. Case Law driven.
Term
Important factors of International Contract formation
Definition
1. decide method of resolution .litigation or arbitration
2. Determine Choice of Law (CISG) or provision made in contract.
3. Location of forum
Term
UCC
Definition
the Uniform Commercial Code. Adopted by all states except Louisiana. Article 2 regulates the sale of goods.
Term
Article 2
Definition
UCC article applies to transactions involving the sale of goods.
Term
Magnuson-Moss Warranty Act
Definition
regulate the sale of consumer goods distributed in commerce. It does not permit a seller who makes an express warranty to disclaim an implied warranty.
Term
Article two of the UCC deals ALMOST exclusively with the sale of goods
Definition
true. not exclusively but almost.
Term
The article that deals with the lease of goods
Definition
Article 2A
Term
The choice of law rule proposed by the Restatement of Conflicts
Definition
"center of gravity" or "grouping of contracts" or "most significant relationship theory"
Term
Which two countries in the European Union have common law
Definition
Ireland and the United Kingdom
Term
The legal system most prevalent in Europe
Definition
Civil law
Term
Choice of law questions
Definition
selecting the rules when more than one state has interest
selecting the rules when Federal and State laws conflict
selecting the rules when a state has several sets of rules
Term
Choice of law does not apply to the location of the forum court
Definition
true, the forum court is where the case is filed and heard.
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