Contracts Lecture #1 and #2

Join attorney Virginia Tehrani for a conversational, interesting attack on CONTRACTS through some general tips and tricks for tackling CONTRACTS examination questions with real-world examples to help you understand and remember the main premises of CONTRACTS.

In the first video, our attorney, Virginia Tehrani, tackles the difference between common law and the Uniform Commercial Code (the UCC), contract formation through offers, acceptance, and consideration, including descriptions and explanations of the mailbox rule, unilateral contracts, counteroffers, the mirror image rule, illusory promises, promissory estoppel and the pre-existing duty rule. She then discusses how the courts handle interpretation of contract terms, including missing and omitted terms, integrated and partially integrated contracts, and parol evidence. In the final part of the lecture, Virginia breaks down defenses to enforceability of a contract, including the famous statute of frauds and how it works, exceptions to the statute of frauds, void and voidable contracts, mistakes during contract formation, and contracts that are contrary to common decency.

In the second video, you will learn the basics of performance of a contract, including issues of express and constructive contractual conditions, use of extrinsic evidence to define terms and conditions in a contract, and satisfaction of a contract. Virginia also discusses UCC express, implied, and disclaimed warranties for the sale of goods and contractual risks. For discharge of contracts, she highlights the concepts of accord and satisfaction, substituted contracts, novation, mutual rescission, release, anticipatory repudiation, and demands for adequate assurances. In the final part of Lecture #2, Virginia explains breaches of contracts, remedies for breach of contract, and rights of incidental beneficiaries. For this topic, we dive into the realm of partial performance, substantial performance, and material breaches, along with the differences of incidental and consequential damages. Finally, Virginia discusses equitable relief, including specific performance, reformation, rescission, and injunction.