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Apr 19, 2017 · What is a contract? - YouTube. Professor Charles Fried introduces the basics of contracts.From our free online course, “Contract Law: From Trust to Promise to Contract”:...
- 5 min
- 148.2K
- Harvard Online
Mar 27, 2019 · Professor Richard Epstein of NYU School of Law gives a basic definition, then goes through a variety of transactions, from simple to complex, where contracts with increasing degrees of formality...
- 3 min
- 127.3K
- The Federalist Society
This video provides a definition of contract and explains why we as a society need contracts and contract law.
- 7 min
- 6.2K
- Business Law Institute
Basic Elements of Every Contract – For Beginners [video] Share this: Are oral agreements binding? Can you a binding contract which is unsigned? What about agreements by text message, Instagram, twitter etc.? This lectures provides the basic understanding of what constitutes a legal binding contract.
- What Are Contracts?
- Common Types of Contracts
- Essential Elements of (Enforceable) Contracts
- Contract Lifecycle Management: Phases and Common Issues
- Benefits of Effective Contract Management
Contracts are legally binding agreements. They outline the terms and conditions of the agreement (such as the goods or services being exchanged), the responsibilities and obligations of each party and the consequences of non-compliance.
While all contracts serve as the legal framework for an agreement, there are many different types of contracts; each with its own nuances to navigate. Types of contracts include: 1. Unilateral and Bilateral Contracts: In unilateral contracts, one party promises to do something if the other party performs a certain act. In bilateral contracts (which...
Regardless of the contract type, certain parameters must be satisfied. To be legally binding, a contract must include essential elements such as: 1. Offer and Acceptance: There must be a clear offer made by one party and an acceptance of that offer by the other party. 2. Consideration: Each party must provide something of value in exchange for some...
Recent years have seen significant buzz around Contract Lifecycle Management (CLM) technology, but understanding the contract lifecycle and how to drive value through proper contract lifecycle management requires more than a tech tool. Broadly speaking, there are five distinct phases of the contract lifecycle:
When contract management best practices are followed, organizations enjoy benefits ranging from streamlined repapering and regulatory responseto better business outcomes. After optimizing contracting, we’ve seen clients enjoy results like: 1. 50% reduction in clinical trial agreement (CTA) cycle times 2. 98% accuracy rating 3. 75% reduction in time...
4 min read. A contract is an agreement that creates a legal duty or responsibility. Learn more about written and oral contracts and how to make one. You might be aware of the textbook definition of a legal contract, but do you know how it applies in an everyday setting? You should.
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How do contracts work? What happens when you sign them? What needs to be in a contract to enforce it? Find out here. What you'll learn: What Is a Contract? Other Important Components of a Contract; The Finer Points; Contracts are one of the most common legal documents in both our personal and business lives.
