Default Rules

2009.06.15

Default Rules and Mandatory Rules

In contract law, the rules can be sorted into two sorts, “default rules” and “mandatory rules.” The basic distinction between “default rules” and “mandatory rules” is easy to grasp. Some rules of contract law supply default terms that are subject to contractual override; other rules of contract law are [...]

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1. UCC Art. 2-206: Offer and Acceptance in Formation of Contract
(1) Unless otherwise unambiguously indicated by the language or circumstances
(a) an offer to make a contract shall be construed as inviting acceptance in any manner and by any medium reasonable in the circumstances;
(b) an order or other offer to buy goods for prompt or current [...]

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