Total run time:
45m
This module covers some basic concepts in Contract Law. What are the necessary parts of a contract? When might a contract be unenforceable? What role do contracts play in a common law system? How do contracts help individuals and society develop products and services that would otherwise be too difficult?
What is “consideration” and why is it important for legal contracts? Professor Seth Oranburg explains that the purpose of contracts is to maximize societal welfare. In order to do that, contracts need to be premised on parties exchanging goods fo
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What is “consideration” and why is it important for legal contracts? Professor Seth Oranburg explains that the purpose of contracts is to maximize societal welfare. In order to do that, contracts need to be premised on parties exchanging goods for value, which is the element of consideration.
Seth Oranburg is Associate Professor of Law at Duquesne University School of Law.
As always, the Federalist Society takes no position on particular legal or public policy issues; all expressions of opinion are those of the speaker.
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#law #contract #contractlaw #no86
Total run time:
45m
Course:
Total videos:
14
Difficulty:
First Year
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