This lesson explores invitations to negotiate/preliminary negotiations and other statements and expressions that are not offers, including advertisements, invitations to bid, price quotations and statements of intention. Determining whether a particular communication is an offer or preliminary negotiation (a matter determined according to the surrounding circumstances) prior to the formation of contract is essential to the determination of whether a contract exists.
Read moreThis is the first of two advanced lessons on real estate purchase options. In so doing, the lesson covers their contract nature of options and their uses.
Read moreThis is the second of two lessons about real estate purchase options. This lesson explains the problems in using purchase options that arise when the subject of the option is real estate.
Read moreThis lesson takes a look at the basic aspects of the contractual element of Consideration. In a typical transaction, the consideration (described as a bargained-for-exchange) is what induces the making of the promise by the offeror. In turn, the promise induces the furnishing of the consideration by the offeree. Consideration is the ordinary means for justifying the enforcement of the promises by the parties. This lesson sets out the basic requisites for establishing consideration.
Read moreThis lesson explores the contours of anticipatory repudiation, including the repudiating promisor's ability to retract his repudiation, the nonrepudiating promisee's right to demand adequate assurances of performance, and the effect of the promisor's repudiation on the promisee's obligation to perform.
Read moreThis lesson takes a look at one type of agreement that lacks consideration: gift promises.
Read moreThis lesson explores the concepts of notice and knowledge. These are important concepts in many areas of law, e.g., contracts, property, constitutional law, criminal procedure and civil procedure.
Read moreAt common law, in order for a contract to be binding on the parties, the terms must be sufficiently definite or the contract will fail. This lesson explores the boundaries of the doctrine of indefiniteness.
Read moreThis lesson deals with the problem created by the Battle of the Forms. At common law, the mirror image rule requires an acceptance to be exactly like the offer. The rule is reversed under the Uniform Commercial Code, however. Under UCC § 2-207, an acceptance is still an acceptance even though it states different or additional terms from the offer. This lesson will explore the effect of such different or additional terms and when they are operative.
Read moreThe topic of this podcast is the identification of the elements of a claim for breach of contract and the primary sources of contract law. From a legal perspective, the word contract refers to a promise or set of promises for which the law gives a remedy. The primary sources of contract law include the common law and statutory law. The common law is represented first by the decisions of courts. Second, the common law also includes, with a lesser status than court decisions, the Restatement (Second) of Contracts and books and articles written about contract law. The statute most often applicable in the area of contracts is Article 2 of the Uniform Commercial Code (sometimes called the UCC).
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