Selections from the Restatement (Second) Contracts and Uniform Commercial Code for First-Year Contracts 2024 Supplement

Book excerpt: An invaluable supplement to any contracts law casebook (including the authors’ own K: A Common Law Approach to Contracts), this concise statutory supplement provides the materials necessary to keep your first-year contracts course completely up-to-date. Inside you will find the materials necessary to learn how to use the most important sources of law (other than the judicial opinions which fill your casebook): the Restatement (Second) of Contracts and the principal commercial statute—the Uniform Commercial Code—as part of the foundation course in contracts. The authors’ careful selection of sections and the judicious inclusion of comments and illustrations from the Restatement (Second) and the Uniform Commercial Code ensures students have access to resources which add helpful depth to the “black letter law” and avoids overwhelming students with dense and unnecessary detail. This statutory supplement aids students in the task of learning the essentials of contract law. Highlights of the 2024 Edition: Includes Article 1 and 2 sections as amended by the American Law Institute and the Uniform Law Commission in 2022 to respond to emerging technologies, including artificial intelligence, blockchain, and digital currencies. Provides an update on state legislative actions in response to the amendments. Article 1 includes an updated preface detailing the revision process and key changes to the UCC. Article 1 was substantially revised to change fundamental concepts that are present throughout the code (§1-201. “Definitions”). The supplement includes those revisions that are most relevant to first-year contracts: “conspicuous” (10) is condensed, “electronic” (16A) is added, “money” (24) is clarified, and send (26) and sign (37) are updated. Article 2’s scope provision (§2-102) expressly adopts the “predominant factor” test of “mixed” or “hybrid” transactions that involve both goods and services (§2-106(5)). Numerous sections (§2-201, §2-202, §2-203, §2-205, and §2-209) are modernized by to account for electronic signatures and digital documents.