The topic of this podcast is the identification of the elements of a claim for breach of contract and the primary sources of contract law. From a legal perspective, the word contract refers to a promise or set of promises for which the law gives a remedy. The primary sources of contract law include the common law and statutory law. The common law is represented first by the decisions of courts. Second, the common law also includes, with a lesser status than court decisions, the Restatement (Second) of Contracts and books and articles written about contract law. The statute most often applicable in the area of contracts is Article 2 of the Uniform Commercial Code (sometimes called the UCC).
On completion of the lesson, the student will be able to:
1. Explain the basic issues involved in a contract claim.
2. Identify the primary sources of contract law, the common law and Article 2 of the UCC.
3. Eexplain which law applies to what types of basic transactions.