Presents in-depth study of general contract law, including formation, breach, enforcement, and remedies. May include an overview of Universal Commercial Code (U.C.C.) sales, commercial paper and collections. Lecture 3 hours per week.
GENERAL COURSE PURPOSE
This course is designed to introduce the student to the common law of contracts, to the provisions of the U.C.C. governing sales, and to principles of contract planning, drafting and interpretation.
ENTRY LEVEL COMPETENCIES
Although there are no prerequisites for this course, proficiency (at the high school level) in spoken and written English is recommended for its successful completion.
Upon completion of this course, the student should be able to:
- understand the differences between the common law of contracts and the provisions of Article 2 of the Uniform Commercial Code
- appreciate the purpose of contract law and its intended effect on economic transactions
- plan and draft a simple contract
- assist a lawyer in every stage of a contract case, including planning, negotiation, drafting, and interpretation
- offer and acceptance
- gap fillers
- revocations and counteroffer
- consideration and consideration substitutes
- formation defenses and defects
- formalities: the statute of frauds and the parol evidence rule
- performance and breach
- damages and the duty to mitigate them
- equitable remedies
- third party rights
- contact interpretation and litigation
- principles of negotiation, planning and drafting
- laws governing electronic transfers of funds
- secured transactions and Article 9 of the U.C.C.
- federal and state consumer protection laws
- overview of bankruptcy law
- overview of insurance