Silicon Valley Business School

Contents of SVBS Course: Contracts

All forms of business involve generating sales and sales involves forming contracts. Contract law is an essential topic for anyone involved in business, law, intellectual property technology transfers and other transactions. This module covers contract formation, consideration, performance, breach, and the various defenses that may be assembled to prevent contract enforcement.

Learning Objectives and Outcomes

Upon completion of this course you will be able to:

Form verbal and written contracts that are binding in law.
Appreciate how contractual terms and provisions are interpreted in court.
Be able to identify several of the key defenses presented by defendants when accused of breach of contract.
Understand how contractual duties are discharged.
Be able to determine and calculate the remedies available for breach of contract.


Course Sections

The course is organized into the following sections:

Contracts: Uniform Commercial Code for Goods & Common Law for Services
Contracts: Contract Formation
Contracts: Consideration & Substitutes
Contracts: Contract Performance & Breach
Contracts: Identification and Interpretation of Contracts
Contracts: Third Parties
Contracts: Discharge
Contracts: Remedies for Contract Breach
Contracts: Defenses Against Enforcement
Contracts: Varieties
Contracts: Beyond Contractual Duties
Contracts: Introduction
Contracts: Liens and Secured Transactions

Contracts: Introduction
  • Video ~ Contracts -- Introduction & History
  • The history and source of the Contract law in the United States.

  • Video ~ What is a contract?
  • Silicon Valley Trends Podcast ~ Elvis, Contracts & Unwanted Breasts
  • Learn about contract law and how to write your own contracts using cases involving Elvis Presley and real-world examples.

  • Slideshow Handout ~ Contracts -- Introduction & History
  • PDF slides for the learning material titled: "Video ~ Contracts -- Introduction & History".

  • Reading ~ Contracts Basics
  • In this article, you will find answers to the following questions, among others: What is a contract? What laws govern contracts? How are contracts enforced?

  • Reading ~ Contracts and the Law
  • Reading ~ Clarity in Contracts
  • This article opines that if the parties to a contract take the time to make their intentions and expectations clear to each other from the start, most contract disputes could be avoided.

    Contracts: Uniform Commercial Code for Goods & Common Law for Services
  • Video ~ What is the Uniform Commercial Code?
  • Video ~ What Law Applies To Transactions For Both Goods And Services?
  • This video introduces the predominance and component tests applied by courts to determine whether to apply Article 2 of the UCC to transactions involving both goods and services.

  • Video ~ UCC & Gravaman of the Action Test
  • What is the Gravamen of the Action Test? This video introduces one test applied by courts in certain jurisdictions to determine whether the Uniform Commercial Code applies to lawsuits involving transactions that include both goods and services.

  • Reference ~ Uniform Commercial Code
  • Contracts: Contract Formation
  • Video ~ Contracts -- Formation
  • How contracts are formed.

  • Video ~ What is an Offer?
  • This video introduces the first element of a contract, the offer.

  • Video ~ Statute of Frauds
  • What is the Statute of Frauds? This video discusses state laws that require evidence for some types of contracts to be in writing.

  • Video ~ Mirror Image Rule
  • What is the mirror image rule? This video discusses the common law mirror image rule for contracts, where valid acceptances must mirror the terms of the offer.

  • Video ~ UCC & Mirror Image Rule ~ Part 1
  • How does the UCC modify the mirror image rule? This is part 1 of a series of videos discussing how the UCC modifies the common law mirror image rule.

  • Video ~ UCC & Mirror Image Rule ~ Part 2
  • This video discusses how the UCC modifies the common law mirror image rule, focusing on the "Knockout Rule" where an acceptance contains a term that contradicts a term in the offer.

  • Video ~ Mailbox Rule
  • What is the mailbox rule? This video introduces the mailbox rule, which applies to acceptances by mail, of offers to enter into a contract.

  • Video ~ Condition Precedent
  • What is a "condition precedent"? This video introduces the condition precedent, an act or occurrence that must take place before a party is obligated to keep its promise in a contract.

  • Video ~ Condition Subsequent
  • What is a "condition subsequent"? This video introduces the condition subsequent, an event that may end a party's duty to keep its promise in a contract.

  • Slideshow Handout ~ Contracts -- Formation
  • PDF slides for the learning material titled: "Video ~ Contracts -- Formation".

  • Reading ~ Forming a Contract
  • Reading ~ Is an Advertisement an Offer?
  • Reading ~ Can Silence Signal Acceptance?
  • Reading ~ When Will a Promise or Statement Be Considered a Binding Contract?
  • If you're a business manager or sole proprietor, you should be especially aware of the difference between an empty statement and a legally actionable one. The information contained in this article will help you better understand how your statements -- if accepted, even silently -- can become legally binding contracts.

  • Reading ~ Are Signatures Required to Form Binding Contracts?
  • Reading ~ What Contracts are Required to Be in Writing?
  • This article provides information regarding the types of contracts that need to be executed in writing in order to be enforceable.

  • Reading ~ Must a Mortgage Be in Writing?
  • Reading ~ Do All Construction Contracts Have to Be in Writing?
  • Reading ~ Sample Sales Contract
  • Contracts: Consideration & Substitutes
  • Video ~ Contracts -- Consideration & Substitutes
  • Video ~ Consideration
  • Video ~ Bilateral and Unilateral Contracts
  • What are bilateral and unilateral contracts? This video discusses agreements where parties make promises to each other, and agreements where there is only one express promise.

  • Slideshow Handout ~ Contracts -- Consideration & Substitutes
  • PDF slides for the learning material titled: "Video ~ Contracts -- Consideration & Substitutes".

  • Reading ~ What is "Consideration" and How Much is Required?
  • This article provides a general overview of contractual consideration and how much of it is required for a contract to be valid.

  • Reading ~ Do Construction Contracts Require Consideration?
  • Construction contracts require consideration in order to be legally enforceable.

    Contracts: Contract Performance & Breach
  • Video ~ Contracts -- Performance / Breach
  • Slideshow Handout ~ Contracts -- Performance / Breach
  • PDF slides for the learning material titled: "Video ~ Contracts -- Performance / Breach".

  • Reading ~ Top 10 Reasons to Avoid Breaching a Contract
  • Contracts: Identification and Interpretation of Contracts
  • Video ~ Contracts -- Identification & Interpretation
  • Slideshow Handout ~ Contracts -- Identification & Interpretation
  • PDF slides for the learning material titled: "Video ~ Contracts -- Identification & Interpretation".

    Contracts: Third Parties
  • Video ~ Contracts -- Third Parties
  • Video ~ Assignment
  • This video introduces assignments, where a party to a contract transfers his right to performance, a benefit from the contract, to a third party.

  • Video ~ Intended Third-Party Beneficiary
  • This video discusses circumstances where a third party may have standing to sue for breach of contract even if she is not a party to the contract, but is intended to benefit from the performance of the contract.

  • Slideshow Handout ~ Contracts -- Third Parties
  • PDF slides for the learning material titled: "Video ~ Contracts -- Third Parties".

  • Reading ~ Novation
  • Contracts: Discharge
  • Video ~ Contracts -- Discharge
  • How contracts are terminated.

  • Slideshow Handout ~ Contracts -- Discharge
  • PDF slides for the learning material titled: "Video ~ Contracts -- Discharge".

    Contracts: Remedies for Contract Breach
  • Video ~ Contracts -- Remedies for Breach
  • This voice narrated slideshow presents a summary of how contractual breaches are remedied by the courts.

  • Slideshow Handout ~ Contracts -- Remedies for Breach
  • PDF slides for the learning material titled: "Video ~ Contracts -- Remedies for Breach".

  • Reading ~ Remedies for Contract Breach
  • When an individual or business breaches a contract, the other party to the agreement is entitled to relief (or a "remedy") under the law. The main remedies for a breach of contract are: Damages, Specific Performance, or Cancellation and Restitution.

  • Reading ~ Most Common Legal Remedy for a Breach of Contract
  • Reading ~ Remedies: Specific Performance
  • Contracts: Defenses Against Enforcement
  • Video ~ Contracts -- Defenses Against Enforcement
  • Video ~ Preexisting Duty
  • This video discusses "preexisting duty" as an example of legally insufficient consideration.

  • Video ~ Duress
  • Video ~ Affirmative Defenses
  • Slideshow Handout ~ Contracts -- Defenses Against Enforcement
  • PDF slides for the learning material titled: "Video ~ Contracts -- Defenses Against Enforcement".

  • Reading ~ Contract Defenses
  • Reading ~ Illegal Contracts
  • An illegal contract either specifies prohibited goods or services, or requires illegal activity in order to fully perform its terms.

    Contracts: Varieties
  • Video ~ Contracts -- Varieties
  • Video ~ Unilateral Contracts
  • Video ~ Express and Implied Contracts
  • Slideshow Handout ~ Contracts -- Varieties
  • PDF slides for the learning material titled: "Video ~ Contracts -- Varieties".

  • Reading ~ What is an Option Contract?
  • Contracts: Beyond Contractual Duties
  • Video ~ Promissory Estoppel
  • Reading ~ Promissory Estoppel and Detrimental Reliance
  • Detrimental reliance is an important component of many causes of action relating to breach of contract, including fraud, misrepresentation, negligent misrepresentation, violation of the Unfair Practices Act (or UPA), and enforcing an oral contract under the theory of promissory estoppel.

  • Reading ~ When Will a Promise or Statement Be Considered a Binding Contract?
  • A promise must be supported by consideration to form a binding contract, but there are scenarios in which the Court will enforce a promise where no contract was formed. Usually these are situations of detrimental reliance, where the person relied on the promise and suffered a detriment as a result.

  • Reading ~ Building Trust & Long-Term Relationships
  • When it comes to negotiating, thinking beyond the current contract is often the most effective strategy. Today’s savvy and progressive negotiators are learning bickering over price is an old-school mindset that might be appropriate for buying something from the local market, but is not the best or smartest way to lay a solid foundation for a strategic, collaborative relationship.

    Contracts: Liens and Secured Transactions
    Certificate Course
    This certificate tracks your progress and tests you in each section. Once you have passed all the quizzes, submitted an assignment and reviewed all the materials, you will be awarded a certificate of completion.