aicpa财务会计与报告contracts

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1、RegulationModule23:ContractsInstructor:Helen08/09/20091M23ContractsA.TypesofContractsB.ElementsofaContractC.AssignmentandDelegationD.3rd-PartyBeneficiaryContractsE.PerformanceofContractF.DischargeofContractsG.Remedies2A.TypesofContracts3ATypesofContracts1.WhatisaContract¡Iti

2、salegallyenforceableagreement,suchthatyouhavearemedyinlawiftheotherpartybreaches.¡2.Thereare2setsofContractRulesRISE!Real-EstateInsuranceCommonLawApplytoUnmovable,IntangiblepropertyServicesEmploymentUCCApplytomovable,tangiblegoods,andpersonalpropertymostrulesarethesame,mustk

3、nowthedifferences4ATypesofContracts3.TypesofContractsTermsactuallystated.ExpressContractformedbylanguage,oralorwrittena)MethodofFormationImpliedContractTermsNotspecificallygiven,formedbyconduct(implied-in-fact)ExecutedContractDutiesalreadyperformedb)StageofPerformanceExecuto

4、ryContractDutiesremainedtobeperformedUnilateralContract1partygivespromisec)OneortwoPromiseBilateralContractEachpartyexchangepromiseVoidableContractApartyhasrighttopullout.d)EnforceabilityVoidContractCannotbeenforcedbylawNotacontractNote:Quasi-Contract(Implied-in-lawContract)

5、isnotacontract,butaremedytopreventunjustenrichment5ATypesofContracts3.TypesofContractsExamples:a)AnnPromisestogiveBob$10ifBobwillwashAnn¡scar.AccordingtoMethodofFormation:Answer:ExpressContract.Thecontractisformedbyoral.6ATypesofContracts3.TypesofContractsExamples:b)IfAlexgo

6、estoadoctorwhenheissickandthedoctorexaminesAlex.AccordingtoMethodofFormation:Answer:ImpliedContract.Theirconductimpliestheirintenttoenterintoacontracteventhoughnooralorwrittenpromises.7ATypesofContracts3.TypesofContractsExamples:c)JoannegivesKate$10,000asadownpmttopurchaseKa

7、te¡shouse.ThecontractisoralandKatedecidestobackout.(AccordingtoStatuteofFraud,purchaseoflandmustbeinwriting)Answer:QuasiContract.Itisnotacontractsincepurchaseoflandmustbeinwriting(statuteoffraud).ButJoannecanrecoverthedownpmttopreventKate¡sunjustenrichment8ATypesofContracts3

8、.TypesofContractsExamples:d)AnnpromisestogiveBob$10ifBobwillwashAnn¡scar.Ac