Quote:
Originally Posted by BobbieBrighto
the ucc governs when a sale by auction (the transaction) is complete (by customary conduct).
even if the contract has been formed, to complete performance & finalize the contract, payment is still required even if a buyer has the right to enforce the sale. consideration is necessary in every contract. thats common sense. again i ask: what are you saying? that the buyer can enforce the sale yet need not pay or show proof of payment?
wasn't trying to diss you, but horrible application. it is funny though when 1st year students or practicing attorneys use legalize to say, "hey. look at me. i know law." especially without providing any reasoning or explanation. i agree though, i said it before, at least, the knowledge of dooma's lawyer had been easily recognizable (unlike a lot of internet lawyerz)
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Dooma350 had a right to compel Husker to recognize his bid and sell to him. In order for Dooma to buy, he obviously had to come up with the money (and did). "Consideration" may have been involved in consummating the transaction, but it was not necessary to enforce the results of the auction and compel Husker to
sell.
Dooma's lawyer had it exactly right. None of the other commentators knew what he was talking about (and would have failed a Bar examination question on the subject; it's not really very hard).