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Founder and Editor-in-Chief, the CrunchTime series,

Emanuel Law Outlines, and Emanuel Bar Review

Harvard Law School, J.D. 1976

Member, NY, CT, MD and VA bars

The CrunchTime® Series


Copyright © 2012 CCH Incorporated.

Published by Wolters Kluwer Law & Business in New York.

Wolters Kluwer Law & Business serves customers worldwide with CCH, Aspen Publishers, and Kluwer Law International products. (www.wolterskluwerlb.com)

No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or utilized by any information storage or retrieval system, without written permission from the publisher. For information about permissions or to request permissions online, visit us at www.wolterskluwerlb.com, or a written request may be faxed to our permissions department at 212-771-0803.

To contact Customer Service, e-mail [email protected], call 1-800-234-1660, fax 1-800-901-9075, or mail correspondence to:

Wolters Kluwer Law & Business

Attn: Order Department

PO Box 990

Frederick, MD 21705

Printed in the United States of America.

1 2 3 4 5 6 7 8 9 0

ISBN 978-1-4548-0918-0

Library of Congress Cataloging-in-Publication Data

Emanuel, Steven. Contracts / Steven L. Emanuel. -- 5th ed.

p. cm. -- (The CrunchTime series)Includes index.

ISBN 978-1-4548-0918-0

1. Contracts--United States--Outlines, syllabi, etc. I. Title.

KF801.Z9E563 2012



This book is intended as a general review of a legal subject. It is not intended as a source of advice for the solution of legal matters or problems. For advice on legal matters, the reader should consult an attorney.

About Wolters Kluwer Law & Business

Wolters Kluwer Law & Business is a leading global provider of intelligent information and digital solutions for legal and business professionals in key specialty areas, and respected educational resources for professors and law students. Wolters Kluwer Law & Business connects legal and business professionals as well as those in the education market with timely, specialized authoritative content and information-enabled solutions to support success through productivity, accuracy and mobility.

Serving customers worldwide, Wolters Kluwer Law & Business products include those under the Aspen Publishers, CCH, Kluwer Law International, Loislaw, Best Case, ftwilliam.com and MediRegs family of products.

CCH products have been a trusted resource since 1913, and are highly regarded resources for legal, securities, antitrust and trade regulation, government contracting, banking, pension, payroll, employment and labor, and healthcare reimbursement and compliance professionals.

Aspen Publishers products provide essential information to attorneys, business professionals and law students. Written by preeminent authorities, the product line offers analytical and practical information in a range of specialty practice areas from securities law and intellectual property to mergers and acquisitions and pension/benefits. Aspen’s trusted legal education resources provide professors and students with high-quality, up-to-date and effective resources for successful instruction and study in all areas of the law.

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Loislaw is a comprehensive online legal research product providing legal content to law firm practitioners of various specializations. Loislaw provides attorneys with the ability to quickly and efficiently find the necessary legal information they need, when and where they need it, by facilitating access to primary law as well as state-specific law, records, forms and treatises.

Best Case Solutions is the leading bankruptcy software product to the bankruptcy industry. It provides software and workflow tools to flawlessly streamline petition preparation and the electronic filing process, while timely incorporating ever-changing court requirements.

ftwilliam.com offers employee benefits professionals the highest quality plan documents (retirement, welfare and non-qualified) and government forms (5500/PBGC, 1099 and IRS) software at highly competitive prices.

MediRegs products provide integrated health care compliance content and software solutions for professionals in healthcare, higher education and life sciences, including professionals in accounting, law and consulting.

Wolters Kluwer Law & Business, a division of Wolters Kluwer, is headquartered in New York. Wolters Kluwer is a market-leading global information services company focused on professionals.













Thank you for buying this book.

The CrunchTime Series is intended for people who want Emanuel quality, but don’t have the time or money to buy and use the full-length Emanuel Law Out-line on a subject. We’ve designed the Series to be used in the last few weeks (or even less) before your final exams.

This book includes the following features, most of which have been extracted from the corresponding Emanuel Law Outline:

  • Flowcharts — We’ve reduced most principles of Contract law to a series of 16 Flowcharts. We think these will be especially useful on open-book exams. The Flowcharts begin on p. 1.

  • Capsule Summary — This is a 113-page summary of the subject. We’ve carefully crafted it to cover the things you’re most likely to be asked on an exam. The Capsule Summary starts on p. 41.

  • Exam Tips — We’ve compiled these by reviewing dozens of essay and multiple-choice questions asked in past law-school and bar exams, and extracting the issues and “tricks” that surface most often on the exams. The Exam Tips start on p. 159.

  • Short-Answer questions — These questions are generally in a Yes/No format. In the case of the present Contracts volume, they’ve been adapted from the Law in a Flash flash-card deck on Contracts. (We’ve re-written most answers, to better mesh with the Emanuel Law Out-line’s approach.) The questions start on p. 227.

  • Multiple-Choice questions — These are in a Multistate-Bar-Exam style, and are taken from Strategies & Tactics for the Finz Multistate Method, which is also published by Wolters Kluwer Law & Business. They start on p. 283. Answers explaining why one answer option is correct and the others are not are provided.

  • Essay questions — These questions are actual ones asked on law school exams. They start on p. 309. Sample answers are provided.

We hope you find this book helpful and instructive. Good luck.

Steve Emanuel

Larchmont, NY

May 2012

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