LEGAL 240 - Contracts

1. Identify the components of a valid contract, including the elements of a valid offer, a proper acceptance, and legally adequate considerations.
2. Discuss issues of lack of mutual assent, including incapacity, illegality, fraud, misrepresentation, mistake, duress, undue influence, and unconscionability.
3. Explain which contracts must be in writing under the Statute of Frauds, and apply the rules of interpretation and the Parol Evidence rule to construe the meaning of written contracts.
4. Summarize the methods for discharging contractual obligations, including impossibility, impracticability, frustration of purpose, rescission, release, novation, modification, accord and satisfaction, and performance.
5. Identify the different types of third party contractual relationships and differentiate between assignments and delegations.
6. Distinguish between the available for breach of a common law contract and those available for breach of a sale of goods contract under the Uniform Commercial Code.
7. Apply the substantive law of contracts and the rules of interpretation to analyze a typical contract problem and to draft a standard contract.