Consideration: an act, forbearance, or return promise bargained for and received by the promisor from the promisee, constituting a legal benefit to promisor or detriment to promisee (Hamer v

1. Consideration

a. Bargain Theory (exchange)

b. Alternative Threory

i. Past or Moral Obligation

ii. Promissory Estoppel

c. Lack of Consideration

d. Promissory Estoppel

i. Expectation

ii. Inducement

1. Charitable subscription

iii. Harm

iv. Part Performance

2. Offera. Intent

b. Types of Communication

i. Advertisement/Inquiry/Letter of Intent/Offerc. Offer/Counterofferd. Ambiguity/Indefinite Term

3. Acceptance

a. Inquiry/Counteroffer

b. Acceptance

i. Timely

ii. Proper Form (promise/action/UCC)iii. Terminations/Revocations

c. Ambiguity/Indefinite Term

4. Breach (who and how?)

5. Remedy

a. Expectancy

i. Contract-Market Differential

ii. Cost of Completion/Differential Valueiii. Lost Profits or UCC (transactions in goods)iv. Limitations on Expectancy

1. Avoidability; Mitigation; Foreseeability; Uncertainty

b. Reliance

c. Restitutioni. Quantum Meruit

ii. Plaintiff in Breach?d. Stipulated Damages

i. Liquidation Clause?

1. Non-punitive; Anticipated Breach; actual Damages Difficult to Provee. Equity

i. Specific Performance

1. Adequacy of other damages?

2. Judicial Capabilityii. Injunction

1. Personal Service and Non-competePAGE 1