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Essentials of Contracts and Remedies: A Detailed Overview

This chapter provides an introduction to the law of contracts, covering classifications, terminology, damages, and equitable remedies. Learn the elements of a contract, different types of contracts, enforcement terminology, legal remedies like damages and equitable solutions. Dive deep into understanding mutual assent, consideration, legal capacity, and legal subject matter in contracts. Explore valid, void, voidable contracts, and various legal remedies such as compensatory, punitive damages, specific performance, and rescission.

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Essentials of Contracts and Remedies: A Detailed Overview

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  1. CHAPTER 13: INTRODUCTION TO CONTRACTS AND REMEDIES

  2. CHAPTER 13: INTRODUCTION TO CONTRACTS AND REMEDIES Learning Objectives: Introduction to the Law of Contracts Classifications of Contracts Terminology Damages Equitable Remedies Chapter 13

  3. INTRODUCTION TO THE LAW OF CONTRACTS • Definition: promises that are enforceable in court. • Elements of a Contract: • Mutual Assent • Consideration • Legal Capacity • Legal Subject Matter • Sources of Contract Law Chapter 13

  4. CLASSIFIATION • Form • Bilateral Contracts • Unilateral Contracts • Express and Implied-in-Fact Contracts • Implied-in-Law Contracts (Quasi-contracts) Chapter 13

  5. TERMINOLOGY • Enforcement Terminology • Valid • Void • Voidable • Performance Terminology • Executed • Executory Chapter 13

  6. LEGAL REMEDIES: DAMAGES • Nominal • Compensatory • Requirements • Duty to Mitigate • Consequential • Punitive • Liquidated Damages Clause Chapter 13

  7. EQUITABLE REMEDIES • Specific Performance • Rescission • Restitution Chapter 13

  8. CHAPTER 13: INTRODUCTION TO CONTRACTS AND REMEDIES

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