1. Dene promisor and promisee. 2. In a typical contract, what are the parties trying to achieve? 3. Why do the contracted parties end up in court? 4. What are the essential elements of a contract? Describe each one. 5. What is an arm'slength agreement vs. a nonarm'slength agreement? 6. What are the Terms of the contracts? Ir". What are the conditions of a contract? 8. What are the wananties of the contract? 9. What is a breach? 10. What are the different types of breach? 11. What are the remedies for breach? 12. What does it mean when it is said a contract is I'frustrated 1'? 13. What is an "Act of God\"? 14. Why are the contracted parties in a dispute expected to mitigate damages? 15. When no price [consideration] is mentioned, what do the courts consider when considering remedies