Audience

Managers, prospective managers, and any other employees seeking competency in the area of business law

Prerequisites

Basic understanding of the law competency

Course Aim

To examine contractual defenses and obligations

Learning Objectives

Explain misrepresentation. Explain fraud. Explain duress, influence, and mistake. Discuss contracts with minors. Discuss contracts with the mentally impaired. Explain the effects of illegality. Discuss contracts made illegal by statute. Discuss contracts made illegal by public policy. Explain the statute of frauds. Outline the types of contracts covered by the statute of frauds. Explain how courts interpret contracts. Explain the assignment of contracts. Explain the consequences of assignment. Discuss third party beneficiaries. Discuss the conditions and performance of a contract. Outline legal excuses for nonperformance. Discuss remedies.

Topics Covered

Voluntary Consent and Capacity - Misrepresentation - Fraud - Duress, influence, and mistake - Contracts with minors - Contracts with the mentally impaired Illegality - The effects of illegality - Contracts made illegal by statute - Contracts made illegal by public policy The Form and Meaning of Contracts - The statutes of frauds - Contracts covered by the statutes of frauds - Interpreting contracts Third Parties' Contract Rights - Assignment of contracts - Consequences of assignment - Third party beneficiaries - DecisionPath: Third party rights Performance and Remedies - Conditions and performance - Excuses and discharge - Remedies

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