Business Law: Sources of Contract Law

The video tutorial introduces the concept of contracts, explaining their importance in business law. It covers the basics of contract law, including enforceable promises, performance, and remedies for breaches. The tutorial delves into the sources of contract law, focusing on the Uniform Commercial Code (UCC) and common law, and their applications to goods and services. Through examples, it illustrates how these laws are applied in real-world scenarios, such as the case of Jack's drywall problem.

What is a contract and how is it defined in the context of business law?

What remedies are available for breaches of contract according to the text?

What are the two main sources of contract law mentioned in the text?

Explain the purpose of the Uniform Commercial Code (UCC).

What types of transactions does the UCC specifically apply to?

How does common law differ from the UCC in terms of contract disputes?

Describe the case of Jack's drywall problem and its significance in contract law.