Contract Formation I
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This lesson deals with contract formation. Students are given a series of hypothetical problems dealing with basic contract law as reflected in Restatement of Contracts (Second) and the Uniform Commercial Code. Coverage includes: intent to contract, definiteness, options, rejection, revocation, counteroffer, lapse, consideration, promissory estoppel, moral obligations, and accord and satisfaction. The program not only responds with correct and incorrect answers, but also gives feedback regarding underlying reasons for answers. If an incorrect answer is given, the program follows up with additional questions on the topic to improve student understanding.