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Course Description
Every time you trade an item, attend a sporting event or buy a soda, you enter the world of contracting. When an exchange is made willingly a contract exists. But do you know how US law interprets and enforces contracts? We've designed an introductory course to help you understand the components, processes, and legal impacts of contracts.
This 11-lesson course will take a broad, yet detailed view of contract law in the United States.
In this course we will begin by examining contract basics by explaining what a contract is and the various contract types. Key elements to most contracts are covered , along with an explanation of how US law governs contractual activity. We'll discuss enforcement and dispute resolution options, and the three critical requirements of a contract – offer, consideration and acceptance.
We will explain who can enter a contract, how to approach negotiation and designing a written contract. This course will also examine unfair and improper contracts that could be challenged; focus on contract termination, covering breach, voiding and rescission claims; and provide details on special contract situations, including real estate, financing and social contracts. We conclude with an examination of contract law governing Internet use. When completed, each student will gain an edge when buying a car or home, getting a job, and handling everyday agreements.
Learning Outcomes
By successfully completing this course, students will be able to:
Define what a contract is.
Define the contract elements and how it relates to U.S. law.
Summarize contract enforcement.
Define the Offer and Acceptance of contracts.
Describe the processes of negotiating and writing a contract.
Summarize improper contract situations.
Summarize unfair contractual conditions.
Describe contract termination and completion.
Summarize special contract situations, and
Demonstrate mastery of lesson content at levels of 70% or higher.
Course Lessons
Lesson 1 : Contract Basics
Lesson 1 discusses what a contract is and how it works. We'll cover offer, acceptance, consideration, value and other contractual fundamentals. A review of several contract types concludes this lesson.
Lesson 2: Contract Elements and US Law
Lessom 2 discusses the key elements that comprise a contract. We cover some common terms, the parties that create a contract and other factors included in an agreement.
Lesson 3: Contract Enforcement
Lesson 3 discusses the methods of resolving disputes between parties to a contract. We cover court action and alternative dispute resolution options, such as arbitration, mediation, collaborative law and negotiation.
Lesson 4: Offer & Acceptance
Lesson 4 discusses some key details of the fundamental aspects of a contract: offer, consideration and acceptance. We will cover valid offers and the timing of acceptance, as well as define appropriate consideration within a contract.
Lesson 5: Negotiating and Writing a Contract
Lesson 5 addresses a party's ability to contract and covers impairment situations. We then discuss the mindset entering negotiations. Finally the benefits of writing the contract are examined and some specific clauses are mentioned.
Lesson 6: Improper Contract Situations
Lesson 6 looks at improper contracting activities that can be challenged by an injured or offended party.
Lesson 7: Unfair Contractual Conditions
Lesson 7 discusses situations where the assent to and/or construction of a contract can be deemed unfair. We'll cover duress, undue influence and impairment. Clauses that can be considered unfair are covered as well.
Lesson 8: Contract Termination & Completion
Lesson 8 describes the methods of cancelling or ending a contract. We look at breach, estoppels, void, completion and rescission. Damages awarded for breach of contract are also covered.
Lesson 9: Special Contract Situations
Lesson 9 discusses unique contracts that have specific requirements. We cover real estate agreements, credit and financing agreements, contracts with government, and labor agreements.
Lesson 10: More Special Contract Situations
Lesson 10 examines two more unique contract situations: Intellectual Property and Social Contracts. We discuss various protections of intellectual property, and cover key terms within an IP contract.
Lesson 11: Contract Law & The Internet
Lesson 11 discusses contract law that governs the activities conducted through the Internet.
This is a non-credit course, and is provided for your personal enrichment.
This course is not intended to be a substitute for any state, government, licensing, certification or educational requirements.
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