The topic of this podcast is a basic overview of when warranties are given for the sales of goods under Article 2 of the UCC. An additional podcast will discuss how warranties can be disclaimed or limited. The primary issue in warranty law is what is the level of quality that a buyer can expect in a contract for goods.
These terms are the building blocks of contracts. This lesson provides an overview of them. After running the lesson, you should be able to distinguish the different terms, recognize them when you find them in a contract, understand the legal effects that follow from their use, and decide which one is appropriate to use when drafting a term in a contract.
This lesson explores discharge of a contract by modification, both at common law and under the UCC. It can be run either as an introduction to the study of modification or as a review after you have completed your study.
This lesson presents an introduction to the doctrine that the performance of a pre-existing duty, or a promise to perform such a duty, does not constitute a sufficient consideration to make a promise binding. Through questions based on a series of hypothetical cases, underlying reasons for the doctrine are considered, as well as its ramifications in various contexts. Coverage includes: the performance of duties owed to the promise or third parties as consideration; modifications on one side of executory contracts; substituted contracts following rescission; executory accords; satisfaction; liquidated claims and offers to settle unliquidated claims.
The topic of this podcast is when contract modifications are not enforceable due to the pre-existing duty rule. Consideration is required to support enforcement of an agreement, including a modification to an agreement. In this podcast, we will look at when the pre-existing duty rule renders modifications unenforceable and when the modern common law rule and the rule of UCC § 2-209 permit enforcement of some modified agreements in the absence of new consideration.
This podcast discusses a discharge of duties such that parties do not have to perform their contractual obligations and cannot demand performance under the other party's contract. Consideration is required to support enforcement of an agreement, including a modification of a contract resulting in a discharge of duties. This podcast will look at discharge by rescission, substituted performance, substituted contract, novation, and accord and satisfaction. We will also look at when a discharge is enforceable where it is supported by consideration, including where there is the use of an instrument under U.C.C. § 3-311. The podcast steps you through analyzing numerous hypos.
This lesson explores discharge of a debt by accord and satisfaction. It can be run either as an introduction to the study of accord and satisfaction or as a review after you have completed your study.
This podcast explains the concept of Accord and Satisfaction, with a focus on when an accord is formed and when performance under the accord results in a satisfaction. This concept differs from modification. With accord and satisfaction, one party has completed performance and the other party’s only obligation is to render its performance -- usually the payment of money. So the party who has performed is in the position of a creditor and the party who has not performed is in the position of a debtor.
This lesson takes a look at the doctrine of excuse. In particular, we will look at the doctrines of impossibility, frustration of purpose and impracticability. Each of these doctrines excuses performance of the parties to the agreement. This lesson sets out the basic requisites for when courts excuse contract performance and evaluating those situations that merit excuse. The general attributes of contract formation and breach are covered in other lessons.
The topic of this podcast is impossibility, impracticability and frustration. Ordinarily we expect the parties to perform their contracts under the principle of pacta sunt servanda, meaning promises are to be kept. Contract law, though, does provide excuse for non-performance (meaning a party is not in breach) in the event of certain contingencies the nonoccurrence of which are basic assumptions of a contract. This podcast covers the three distinct grounds for excuse provided by contract law: (i) impossibility; (ii) impracticability; and (iii) frustration of purpose.
Rescission is one of the ways in which contractual duties are discharged. This lesson discusses mutual rescission, rescission by one of the parties, and rescission as a remedy used by a court. This lesson may be used to introduce you to the subject or to review it.
The goal of this lesson is to take the user systematically through UCC Article 2. The lesson accomplishes this goal by having the user study a contract for the sale of goods. The concepts of Article 2 are thereby seen in the practical setting in which they are applied. Conversely, study of the contract reveals the source of each of the included provisions in the law. The user becomes familiar with the default rules and how those rules might be changed on behalf of a client. The user finishes with knowledge of the Code and how the Code may be applied in practice when drafting a contract.