Unit 1 Overview - Unit 1 Overview Contracts Welcome to Unit...

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Unit 1 Overview Contracts Welcome to Unit 1 of AC502! This week, you will be discussing contracts. Most of us enter into contracts every day (for example, every time we sign a receipt), sometimes written and sometimes verbal. Thus, it is important to understand exactly what constitutes a valid contract and when a contract can or cannot be enforced. The reading for this week will introduce you to the purpose and various types of contracts. You will discuss the necessary parts of a contract (legality, consent, and writing), as well as the remedies available for those whose contracts have been breached.
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Unformatted text preview: Read Chapters 9, 10, and 11 Chapter 9: “Introduction to Contracts” •The Purpose of a Contract •Types of Contracts •Remedies Created by Judicial Activism •Sources of Contract Law •Agreement •Consideration Chapter 10: “Contract Impediments” •Legality •Unconscionable Contracts •Capacity and Consent •Contracts in Writing Chapter 11. “Conclusion to Contracts” •Third Party Beneficiary •Assignment and Delegation •Performance and Discharge •Remedies •Bi-Economy Market, Inc. v. Harleysville Ins. Co. of New York,...
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