This experience is optimized for Internet Explorer version 9 and above.

Please upgrade your browser

Send the Gift of Lifelong Learning!

Business Law: Contracts

Business Law: Contracts

Professor Frank B. Cross, J.D.
The University of Texas at Austin

Gifting Information

FAQ
FAQ

To send your gift, please complete the form below. An email will be sent immediately to notify the recipient of your gift and provide them with instructions to redeem it.

  • 500 characters remaining.

Frequently Asked Questions

With an eGift, you can instantly send a Great Course to a friend or loved one via email. It's simple:
1. Find the course you would like to eGift.
2. Under "Choose a Format", click on Video Download or Audio Download.
3. Click 'Send e-Gift'
4. Fill out the details on the next page. You will need to the email address of your friend or family member.
5. Proceed with the checkout process as usual.
Q: Why do I need to specify the email of the recipient?
A: We will send that person an email to notify them of your gift. If they are already a customer, they will be able to add the gift to their My Digital Library and mobile apps. If they are not yet a customer, we will help them set up a new account so they can enjoy their course in their My Digital Library or via our free mobile apps.
Q: How will my friend or family member know they have a gift?
A: They will receive an email from The Great Courses notifying them of your eGift. The email will direct them to TheGreatCourses.com. If they are already a customer, they will be able to add the gift to their My Digital Library and mobile apps. If they are not yet a customer, we will help them set up a new account so they can enjoy their course in their My Digital Library or via our free mobile apps.
Q: What if my friend or family member does not receive the email?
A: If the email notification is missing, first check your Spam folder. Depending on your email provider, it may have mistakenly been flagged as spam. If it is not found, please email customer service at (customerservice@thegreatcourses.com) or call 1-800-832-2412 for assistance.
Q: How will I know they have received my eGift?
A: When the recipient clicks on their email and redeems their eGift, you will automatically receive an email notification.
Q: What if I do not receive the notification that the eGift has been redeemed?
A: If the email notification is missing, first check your Spam folder. Depending on your email provider, it may have mistakenly been flagged as spam. If it is not found, please email customer service at (customerservice@thegreatcourses.com) or call customer service at 1-800-832-2412 for assistance.
Q: I don't want to send downloads. How do I gift DVDs or CDs?
A: eGifting only covers digital products. To purchase a DVD or CD version of a course and mail it to a friend, please call customer service at 1-800-832-2412 for assistance.
Q: Oops! The recipient already owns the course I gifted. What now?
A: Great minds think alike! We can exchange the eGifted course for another course of equal value. Please call customer service at 1-800-832-2412 for assistance.
Q: Can I update or change my email address?
A: Yes, you can. Go to My Account to change your email address.
Q: Can I select a date in the future to send my eGift?
A: Sorry, this feature is not available yet. We are working on adding it in the future.
Q: What if the email associated with eGift is not for my regular Great Course account?
A: Please please email customer service at (customerservice@thegreatcourses.com) or call our customer service team at 1-800-832-2412 for assistance. They have the ability to update the email address so you can put in your correct account.
Q: When purchasing a gift for someone, why do I have to create an account?
A: This is done for two reasons. One is so you can track the purchase of the order in your ‘order history’ section as well as being able to let our customer service team track your purchase and the person who received it if the need arises.
Q: Can I return or Exchange a gift after I purchase it?
A: Because the gift is sent immediately, it cannot be returned or exchanged by the person giving the gift. The recipient can exchange the gift for another course of equal or lesser value, or pay the difference on a more expensive item

Priority Code

Cancel

Business Law: Contracts

Course No. 561
Professor Frank B. Cross, J.D.
The University of Texas at Austin
Share This Course
4.5 out of 5
40 Reviews
65% of reviewers would recommend this series
Course No. 561
Audio Streaming Included Free

Course Overview

What is a contract? How can you make one binding? How can you avoid being prematurely bound by one? What can you do to get out of a contract? What remedies are available if someone breaches your contract? What special rules apply to international contracts? These questions and the other important issues of legally enforceable promises are covered in the eight lectures of this course.

Contractual agreements are one of the principal mechanisms for ordering life in society. Whether a contract is written or oral, or even implicit, it carries with it all of the duties and obligations that society has endowed with the force of law.

This series of eight lectures lays a comprehensive foundation in the practical and intricate body of law that governs contracts.

Your guide to contracts is Professor Frank B. Cross, Professor of Business Regulation at The University of Texas at Austin and a former attorney with the law firm of Kirkland & Ellis in Washington, DC.

The Academy of Legal Studies in Business honored Professor Cross as the nation's outstanding professor. The Business Week guide to M.B.A. programs has also recognized him as one of the nation's outstanding teachers.

Professor Cross is the author of more than 30 articles in journals of law, science, policy, and management. He has published four textbooks for business law classes, as well as several other academic books. Professor Cross serves on the editorial boards of four journals, including the American Business Journal.

When Has a Contract Been Made?

Lecture 1 explores the boundaries of contracts in law. It discusses the four main requirements that any contract must satisfy, and it discusses the Uniform Commercial Code of the United States, which incorporated common law about commercial contracts into state statutes.

Lectures 2 and 3 give greater detail about the main components of a contract.

One party makes an offer and the other accepts, refuses, or makes a counteroffer, but there are many possible slips in between. Which offers are binding? Lecture 2 examines the preliminary issues of offer and acceptance, including the ability of parties to negotiate, the definiteness of a contract's terms, and terms of acceptance.

In Lecture 3, we look at three more elements of a binding contract:

  • What each party must give up for a contract to be made ("consideration")
  • Whether and when those of a diminished capacity, such as children or the insane, can make contracts
  • When a contract must be in writing.
When Is a Contract not Binding?

Lectures 4 and 5 consider the possible reasons for declaring contracts void or breached.

When does a mistake by either party or fraud by one of them invalidate a contract? When can a party successfully claim that an agreement was reached under duress? In Lecture 4, you get answers to these questions.

Lecture 5 reviews problems with the performance of a contract, including how much of a performance is required to consider a contract discharged, and other legal reasons for discharge. What conditions will excuse performance?

What can you do when the other side doesn't meet its obligations?

If a contract has been breached, how do the courts decide how much you are owed? Remedies for breaches of contract, and different methods for assessing the fair compensation in such cases, are considered in Lecture 6.

Special Cases: Third-Party and International Contracts

The series concludes with discussions of two unique issues in contract law: third-party rights in contracts and international contracts.

Lecture 7 explains the categories of persons who are legally permitted to enforce agreements to which they are not original contracting parties. These might include beneficiaries of the contract or an assignee of a certain part of a contract. The key questions are these:

  • When can rights under a contract be assigned to someone else?
  • When can a contract that benefits you be enforced by you?

Lecture 8 discusses international contracts and the practical and legal complications arising from them. Simple translation is only the first problem, and there are hundreds of variations on rules among countries. We focus on issues raised by international agreements, letters of credit, and other commercial practices. A discussion of the United Nations Convention on the International Sale of Goods in contrast with U.S. law is included.

Please note:

This course is not intended to provide financial or investment advice. All investments involve risk: Past performance does not guarantee future success. You acknowledge that any reliance on any information from the materials contained in this course shall be at your own risk.

Hide Full Description
8 lectures
 |  46 minutes each
  • 1
    Foundations of Contract
    Contract is defined, and the elements and types of contracts are examined. x
  • 2
    Offer and Acceptance
    One party makes an offer and the other accepts, refuses, or makes a counter-offer, but there are many possible slips in between. Which offers are binding? How must acceptance be communicated? x
  • 3
    Consideration, Capacity, and Form
    We look at three more elements of a binding contract, what each party must give up for a contract to be made, whether and when those of a "diminished capacity" can make contracts, and when a contract must be in writing. x
  • 4
    Geniuneness of Assent
    When does a mistake by either party or fraud by one of them invalidate a contract? When can a party successfully claim that an agreement was reached under duress? x
  • 5
    Performance and Discharge
    If you've ever built a house, you have surely wondered what the law requires when a valid contract is in place and one party does not perform to its obligations. What conditions will excuse performance? x
  • 6
    Remedies
    If a contract has been breached, how do the courts decide how much you are owed? x
  • 7
    Third-Party Rights
    When can rights under a contract be assigned to someone else? When can a contract that benefits you be enforced by you? x
  • 8
    International Contracts
    Simple translation is only the first problem and there are hundreds of variations on rules among countries. We focus on issues raised by international agreements, letters of credit, and other commercial practices. x

Lecture Titles

Clone Content from Your Professor tab

What's Included

What Does Each Format Include?

Video DVD
Audio Download Includes:
  • Ability to download 8 audio lectures from your digital library
  • Downloadable PDF of the course guidebook
  • FREE audio streaming of the course from our website and mobile apps

What Does The Course Guidebook Include?

Video DVD
Course Guidebook Details:
  • 56-page printed course guidebook
  • Suggested readings
  • Questions to consider

Enjoy This Course On-the-Go with Our Mobile Apps!*

  • App store App store iPhone + iPad
  • Google Play Google Play Android Devices
  • Kindle Fire Kindle Fire Kindle Fire Tablet + Firephone
*Courses can be streamed from anywhere you have an internet connection. Standard carrier data rates may apply in areas that do not have wifi connections pursuant to your carrier contract.

Your professor

Frank B. Cross

About Your Professor

Frank B. Cross, J.D.
The University of Texas at Austin
Professor Frank B. Cross is Professor in the Department of Information, Risk, and Operations Management at The University of Texas at Austin and a former attorney with the law firm of Kirkland & Ellis in Washington, D.C. He earned his B.A. from the University of Kansas and his J.D. from Harvard Law School. At Texas, Professor Cross has taught undergraduate classes, MBA classes, and executive-education courses in aspects of...
Learn More About This Professor
Also By This Professor

Reviews

Business Law: Contracts is rated 4.4 out of 5 by 40.
Rated 5 out of 5 by from Every Business Person Should Take This Course I am so glad I stumbled across this course. It is extremely helpful to anyone in business. Of course, it's not an advanced law school course. You won't even need to speak Latin. You will gain some very valuable tips on contracts and the law. Will a verbal contract stand up in court? Under the right circumstances. Like? Take the course and find out. What you will learn are timeless core principles of business contract law. You will also learn about remedy when contracts are broken. So often business people come to me with questions like "since my supplier did this, and we have a contract, can't I sue for a million bucks?" Well, I must ask, "were you harmed because your vendor underperformed?" Find out how business contracts work and why going for big wins in court is a lousy strategy. You are far better off if you prevent dispute than to bet on a big win in court. Any lawyer can tell you that anything can happen in court. Having a solid contract is your best assurance of protection. I really don't understand some of the very negative reviews. This course is informative and well presented. You won't need a book to follow. And you will want to refresh yourself from time to time. I enjoyed the course and have listened to it twice. I highly recommend it. What are your thoughts?
Date published: 2017-05-10
Rated 1 out of 5 by from Lack of any printed material and the need to have to download the file every time to review made the course very difficult take.
Date published: 2017-01-01
Rated 3 out of 5 by from Would be Great if the Topic Interests You audio download version This is a slightly unfair review. I bought the course on a big sale, even though the topic held little interest to me. On the positive side Professor Cross, is knowledgeable, is able to convey his knowledge to a lay person such as myself and is pretty funny. He has lots of case studies, some made up that enliven the course. On the downside, even after listening to and enjoying the course, I still have very little interest in the topic. Provisionally recommended for those who have an interest.
Date published: 2016-12-04
Rated 5 out of 5 by from
Date published: 2016-10-01
Rated 5 out of 5 by from Excellent presentation of Contract Law I am currently completing a law course in my MBA program so I can compare this course with an MBA law course on contract law. I really found this course helpful: 1) The professor has a wonderful sense of humor, is extremely knowledgeable, provides plenty of real life examples, and above all presents the material in a comprehensible verbiage! 2) The length of the course is perfect at 8 lectures. They really do go fast. 3) The material is relevant to anyone who needs to know about contracts. I recommend the course to anyone needing to further their knowledge in contract law. I do wish to see perhaps an updated version of the course, though I doubt much has changed in this field.
Date published: 2016-09-30
Rated 2 out of 5 by from Extremely Frustrating, Even Infuriating What annoys me about this course, which I gave up on after about the third lecture, is what annoys and infuriates me about anything to do with the law as portrayed by lawyers: the flagrant dishonesty about just how much rulings have so little to do with actual rules and laws, and everything to do with ulterior, pre-existent bias. I've noticed that lawyers tend to be "groupies" for the legal industry, in that they are cultishly compulsive about keeping up "The Great Lie" that it's some objective dimension of the law that determines case rulings, and not the more untoward, ulterior stuff. Yet never do I see anyone in the legal industry ever talk about bias, much less approach the practice and rulings of the law as actually centered around bias and cover-up lying about bias, which it is. Sadly, this course was just more of the same, which I'm obviously sick to death of.
Date published: 2016-07-24
Rated 5 out of 5 by from Interesting, informative and listenable This course was very informative in that it teaches you the basics of what a contract is and how many ways people have found ways to break one without penalty. It shows you how the law is constantly evolving. I have a better understanding of what a contract is, how to read them and what to look for before signing. This is a course well worth buying and listening to and then listening to again after some time to refresh yourself. This should be in conjunction with Business Law: Negligence and Torts.
Date published: 2015-07-13
Rated 5 out of 5 by from
Date published: 2015-05-24
  • y_2017, m_7, d_25, h_9
  • bvseo_bulk, prod_bvrr, vn_bulk_1.0.0-hotfix-1
  • cp_1, bvpage1
  • co_hasreviews, tv_4, tr_36
  • loc_en_US, sid_561, prod, sort_[SortEntry(order=SUBMISSION_TIME, direction=DESCENDING)]
  • clientName_teachco
  • bvseo_sdk, p_sdk, 3.2.0
  • CLOUD, getContent, 3.8ms
  • REVIEWS, PRODUCT

Questions & Answers

Questions

1-10 of 11 Questions
1-10 of Questions

Customers Who Bought This Course Also Bought

Video title