About This Chapter
Contracts: Scopes and Meanings - Chapter Summary and Learning Objectives
The law can be a pretty confusing topic, but when you find yourself in the middle of a legal situation, it is helpful to have a little understanding of how things work. In this chapter, we are covering contract law, so you can better understand the terms, conditions and rules concerning contracts. Specifically, lessons will cover the scopes and meanings of contracts. You will learn a wide range of vocabulary terms related to this area of law. Our lessons will also cover specific contract rules about areas like construction and interpretation. Some of the specific topics covered in these lessons include:
- Implied terms you may find in a contract
- The parol evidence rule and how it relates to contracts
- The three forms of conditions in a contract
- Ways contract conditions can be excused
|Certainty of Terms: Definition and Terminology||Study the definition of 'definite and certain.'|
|Rules of Construction and Interpretation in Law||Examine how courts determine the parties' intent.|
|Implied Terms in a Contract: Definition & Explanation||Discover why and when courts will imply certain terms to clarify a contract.|
|Parol Evidence Rule: Definition, Examples & Purpose||Explore the definition of the rule and its purpose.|
|Conditions in Contracts: Definition & Forms||Analyze the three forms of conditions.|
|How Contract Conditions are Excused||Take a look at ways a condition is excused.|
1. Certainty of Terms: Definition and Terminology
In order to form a legally binding contract, you must first have a valid offer. A valid offer must contain definite and certain terms. This lesson discusses the key requirements of a valid offer.
2. Rules of Construction and Interpretation in Law
Sometimes a contract dispute will end up in court. A court must examine and interpret the contract in order to determine what the parties intended. This lesson explores how courts determine the parties' intent.
3. Implied Terms in a Contract: Definition & Explanation
Sometimes a contract dispute will end up in court. A court must examine and interpret the contract. Often, a court will imply certain terms in order to clarify the contract. This lesson explores the use of implied terms.
4. Parol Evidence Rule: Definition, Examples & Purpose
Often, a court will rule that a written contract represents the entire agreement between the parties. Other contract evidence won't be permitted or enforced. This is called the parol evidence rule. This lesson explains the rule and how it works.
5. Conditions in Contracts: Definition & Forms
The conditions of a contract determine the parties' obligations. A condition is an act or an event that affects the parties' contractual duties. There are three different forms of contract conditions. This lesson explores each of those conditions.
6. How Contract Conditions are Excused
A contract condition is an act or an event that affects the parties' contractual duties. A condition determines the parties' obligations, but sometimes a condition can be excused. This lesson explains the different ways that a contract condition can be excused.
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Other chapters within the CLEP Introductory Business Law: Study Guide & Test Prep course
- History of American Law
- Sources of Law
- Constitutional Law
- American Legal Systems
- Legal Procedures
- Contract Law Basics
- Capacity in Contract Law
- Contract Law and Third Party Beneficiaries
- Contracts: Assignment and Delegation
- Contracts: Statute of Frauds
- Contracts: Breach of Contract
- Contracts: Discharge of Contracts
- The Legal Environment
- Securities and Antitrust Law
- Property Law
- Creditors' Rights
- International Business Law
- Product Liability and Consumer Protection
- Types of Business Organizations
- Torts in Business Law
- The Role of Agency in Business Law
- Sales & the Law
- CLEP Introductory Business Law Flashcards