Chapter 10: Contracts II – Performance, Structure, Negotiation, and Sample Contracts

What happens after a contract is formed? In this episode, we move beyond the basics of contract creation and explore what happens when parties must actually perform their obligations. We examine the legal principle of pacta sunt servanda, the circumstances under which performance may be excused, and the consequences of breach of contract. You will learn about monetary and equitable remedies, including compensatory damages, consequential damages, specific performance, and rescission.

The episode also explores the practical side of contracts by examining contract drafting, contract structure, letters of intent, negotiation strategies, and common provisions found in business agreements. Finally, we discuss real-world contracts involving employment, insur ...