Contract Law—The Agreement-Making Process. Note that contract law mainly consists of “default” rules—e.g., “this is what the rule is unless the parties clearly agree otherwise.” Offer Intent to make an offer (what kinds of evidence are important?) Richards v. Flowers, p. 282
Gus D’Amato, owner of a boxing training gym, became Mike Tyson’s manager. At age 14, Gus became Tyson’s legal guardian, and took care of him. Gus, as legal guardian, hired Rooney as a trainer for Tyson. Rooney agreed with Gus to train Tyson for free until Tyson turned pro. While Tyson was still a minor, Gus and Rooney agreed that Rooney would be Tyson’s trainer for “as long as Tyson boxed professionally” and that Rooney would receive 10% of Tyson’s revenues. When Tyson turned 18 (and thus had the legal ability to make a contract on his own) and became a professional, he reaffirmed the contract w/Rooney on those exact terms. There was ample evidence of this. A few years later, Tyson fired Rooney after Rooney made some statement about Robin Givens to a news reporter (she was Tyson’s gorgeous first wife, whom he apparently used as a punching bag). Rooney sued Tyson for breach of contract, & Tyson claimed that the terms of the agreement were too indefinite to be a legally enforceable contract. Result?
These apply to transactions for the “sale of goods.” Article 2 of the UCC applies to sale of goods transactions. “Goods” are items of tangible personal property. In other words, NOT real estate, NOT services (employment, construction, etc.), NOT intangibles (goodwill, patents, etc). Goods include your car, clothes, books, a business’s equipment & inventory, airplanes, boats, my socks and shoes, alien space craft, shuttle buses, etc.
This is just a branch of contract law. Most of the rules are the same as for other types of contracts, but Article 2 of the UCC does change a few of the rules for this type of transaction.