This week, I thought about delving into a specific type of contract. But then, I figured it might make more sense to first go over the basics of what a contract actually is.

As always, you can schedule a call through Calendly, peruse past episodes, check out the Keith Law website, or contact me through my LinkedIn profile.

EPISODE-SPECIFIC LINKS:

• Supplementary materials.
• What is a "cause of action?"
• Do you know what a "contract" really is?
• Do you know what "consideration" is, in the contract context? 

TIMESTAMPS:

00:00 — Do you really know what a contract is?

00:08 — Intro

00:31 — Check out the show notes for an outline of the episode.

00:48 — This episode is not a law school contracts course—it's only a basic overview and explanation of what constitutes an contract.

01:45 — Reminder of what a cause of action is.

02:23 — The breach of contract cause of action.

03:01 — This episode is focused on element 1—the enforceable contract.

03:42 — What does the term "enforceable contract" mean?

04:30 — The three most essential components of an enforceable contract—offer, acceptance, and consideration.

04:56 — Offer and its three elements.

06:09 — Acceptance and three of its elements. 

07:05 — Consideration—"mutuality of obligation," "exchange of value," or "the bargained for exchange of promises."

08:57 — Does a contract have to be in writing? Not unless the statute of frauds says so.

10:10 — Defenses to a breach of contract cause of action.

11:24 — Takeaways from this episode.

11:57 — Subscribe, check the show notes, and email or schedule a call with your questions.

12:33 — Outro

Disclaimer: This audio and blog post are for informational purposes only and should not be misinterpreted as legal or other professional advice. If you have a legal question, you should consult with an attorney in your jurisdiction. Thank you for tuning in to Keith Law, PLLC.