Business Law

1. Contract Law
   1. Elements of a Contract
      1. Offer
         1. Definition and Nature of an Offer
         2. Revocation of an Offer
         3. Counteroffers
         4. Offers with a Lapse of Time
         5. Intent to Offer vs. Preliminary Negotiations
         6. Communication of Offer
         7. Conditions and Limitations in Offers
      2. Acceptance
         1. Mirror Image Rule
         2. Communication of Acceptance
         3. Silence as Acceptance
         4. Time of Acceptance and the Mailbox Rule
         5. Qualified Acceptances
         6. Acceptance by Conduct
      3. Consideration
         1. Definition and Types
            1. Executory vs. Executed Consideration
            2. Adequacy vs. Sufficiency
            3. Past Consideration and Exceptions
         2. Promissory Estoppel
         3. Exceptions to the Requirement of Consideration
         4. Forbearance as Consideration
      4. Capacity
         1. Minors and Contracts
         2. Mental Competency and Intoxication
         3. Corporate Capacity to Contract
         4. Third-party Interests and Capacity Issues
      5. Legality
         1. Contracts Against Public Policy
         2. Contracts for Illegal Purposes
         3. Licensing Laws and their Effect on Contracts
         4. Unconscionable Contracts
   2. Types of Contracts
      1. Bilateral and Unilateral Contracts
         1. Differences and Examples
         2. Performance Implications
      2. Verbal and Written Contracts
         1. Statute of Frauds Requirements
         2. Enforceability of Oral Contracts
         3. Interpretation Rules
      3. Executed and Executory Contracts
         1. Definitions and Differences
         2. Practical Implications
      4. Implied Contracts
         1. Implied-in-Fact vs. Implied-in-Law Contracts
         2. Formation through Conduct
         3. Quantum Meruit Claims
         4. Common Situations with Implied Contracts
      5. Standard Form Contracts
         1. Characteristics and Uses
         2. Disadvantages and Criticisms
         3. Doctrine of Reasonable Expectations
   3. Breach of Contract and Remedies
      1. Types of Breach
         1. Material Breach vs. Minor Breach
         2. Anticipatory Breach
         3. Actual Breach
      2. Damages
         1. Compensatory Damages
         2. Consequential and Incidental Damages
         3. Liquidated Damages vs. Penalties
         4. Duty to Mitigate Damages
      3. Specific Performance
         1. When Specific Performance Applies
         2. Limitations and Defenses
         3. Suitability for Unique Goods or Real Estate
      4. Rescission
         1. Grounds for Rescinding a Contract
         2. Mutual Mistake and Unilateral Mistake
         3. Fraud and Misrepresentation
      5. Injunctions
         1. Temporary and Permanent Injunctions
         2. Situations Warranting Injunctions
         3. Balancing Harm and Interests
   4. Contract Management
      1. Contract Lifecycle Management
         1. Stages of the Contract Lifecycle
         2. Tools and Software in Contract Management
      2. Performance Monitoring
         1. Evaluation of Contract Performance
         2. Key Performance Indicators (KPIs)
         3. Compliance Management
      3. Amendments and Modifications
         1. Formalities of Contract Modification
         2. Effect on Original Contract Obligations
         3. Necessity for New Consideration
      4. Termination and Renewal
         1. Termination Clauses and Their Implications
         2. Procedures for Contract Renewal
         3. Automatic Renewal Controversies
      5. Risk Management in Contracting
         1. Identifying and Assessing Contract Risks
         2. Risk Allocation Techniques
         3. Contingency Planning and Mitigation Strategies
      6. Contractual Negotiations
         1. Pre-contractual Negotiation Strategies
         2. Importance of Drafting and Clarity
         3. Negotiation Ethics and Best Practices