Introduction to Contracts

Introduction to Contracts

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? 

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1 of 14: What is a Contract? [No. 86]

People agree to do things for each other every day without needing a contract. Why do we need contracts? What purpose do they serve? Professor Seth Oranburg explains that contracts are a substitute for trust. Contracts enable people to transact bus ... People agree to do things for each other every day without needing a contract. Why do we need contracts? What purpose do they serve? Professor Seth Oranburg explains that contracts are a substitute for trust. Contracts enable people to transact business with strangers and even non-personal entities like corporations.

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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