• Discuss the requirements of a contract with examples.
  • Offer.
  • Acceptance.
  • Consideration.
  • Reality of consent.
  • Capacity.
  • Legality.
• In contract law what is the significance of:
  • the concept of a bargained for exchange.
  • illusory promise.
  • promise to perform a preexisting obligation.
  • past consideration.
  • valid, unenforceable, voidable, and void contacts.
• Identify the following and discuss their effects:
  • mistakes - both unilateral and mutual.
  • misrepresentation & fraud.
  • duress.
  • undue influence.
• Are oral contracts valid?
  • What is the statute of frauds and its requirements?
• The Uniform Commercial Code and its effect on United States law.
  • Formation of a contract.
  • Is formation, performance, and remedies the same under the UCC as under the common law?
• How is a merchant treated under the UCC?
• Respond to the questions in this assignment providing support or evidence for your point of view or argument you are trying to make.
• Tell your readers what action they should take or provide a summary of what the reader should take away from reading/learning about the topic.
• Write your paper in a clear and articulate manner using Standard English.
• Write the paper in your words using a minimum of quotations. Apply the 80/20 rule, meaning that at least 80 percent of the essay is in your words.
• Ensure it is well-organized, logical, and unified, and that your work is original and insightful.
• Review the assignment rubric for this unit assignment.
• Use APA 7 formatting and citation style for your paper.
• Respond in at least a 3-page paper with a separate title and reference page.
• Have at least three quality references or law cases including the textbook. Please provide APA citation.