Organized: The Business Law Breakdown

Episode 01: Mastering Contracts — Introduction to the Season

In this prequel episode of Organized: The Business Law Breakdown, host Professor Seth C. Oranburg sets the stage for “Mastering Contracts.” Explore how contracts turn promises into binding obligations and what to expect from the season. Whether you’re a business professional or law student, this introduction breaks down key legal concepts that will guide you through the world of contract law.

Episode 03: Capacity to Contract – Who Can Make a Deal?

In this episode of Mastering Contracts, we dive into who can legally enter into a contract and the concept of capacity. From minors to those with mental incapacity, we explore when contracts are enforceable and when they’re not. Learn the nuances of how capacity affects contract formation, along with key real-world examples and legal principles.

Episode 04: Bargains and the Objective Theory of Contract

In this episode, we explore the Objective Theory of Contract, which determines whether a contract is formed based on outward actions, not hidden intentions. We break down the classic case of Lucy v. Zehmer and analyze how courts determine if a contract has been formed based on the reasonable interpretation of actions, not private thoughts.

Episode 02: Promises, Promises – Defining a Legal Obligation

In this episode of Organized: The Business Law Breakdown, Professor Seth C. Oranburg explores what turns a simple promise into a binding legal obligation. Discover how courts define and enforce promises through contract law, and what makes certain promises legally enforceable. Using real-world examples and practical applications, we’ll uncover the legal magic that transforms words into commitments.

Episode 05: Offer or Not? What Makes an Offer (Un) Acceptable

In this episode of Organized: The Business Law Breakdown, we dive into the methods by which offers can be terminated or made irrevocable. When can an offer be revoked? When must it be kept open? We break down the nuances of termination of offers, option contracts, and the concept of irrevocability. Through real-world examples and key case discussions, you’ll come away understanding when offers can be accepted and when they’re off the table. Plus, we tackle a practice problem to help solidify the principles in action.

Episode 06: Termination – When Are Offers (Un)Acceptable?

In this episode of Organized: The Business Law Breakdown, we explore the crucial topic of offer termination and what makes an offer irrevocable or revocable. We’ll discuss the Mirror Image Rule and how it applies to offer acceptance under common law, as well as the Battle of the Forms under the UCC, which introduces flexibility in commercial contracts. Additionally, we’ll break down the Mailbox Rule, explaining when an offer is considered accepted and when it might be too late. This episode equips you with the knowledge to navigate the tricky waters of offer termination and acceptance in contract law.

Episode 07: Mirror, Mirror – When Does Acceptance Create a Contract?

In this episode of Mastering Contracts, we delve into the critical concept of acceptance and how it plays a key role in the formation of contracts. We explore the mirror image rule, which requires an acceptance to exactly match the terms of the offer for a valid contract to form. But what happens if the acceptance deviates even slightly from the offer? Does that create a contract or a counteroffer? Join us as we break down these distinctions and explain when an acceptance is valid, how counteroffers complicate negotiations, and the modern-day exceptions under the UCC Section 2-207, which impacts contracts involving the sale of goods.

Episode 08: Consideration – The Price of Commitment

In this episode of Mastering Contracts, we explore the critical concept of consideration—the exchange of value that forms the basis of most enforceable contracts. We’ll discuss the difference between past consideration and present commitments, and why past actions often don’t count as valid consideration in contract law. We’ll also break down key exceptions to the consideration requirement, including promissory estoppel, where promises may still be enforceable without a traditional exchange of value. Using examples from real cases, we’ll untangle this sometimes confusing but essential element of contract formation.

Episode 09: When a Promise is Enough – Promissory Estoppel

In this episode of Mastering Contracts, we explore the doctrine of promissory estoppel, which allows a promise to be enforced even without traditional consideration. We’ll discuss how reliance on a promise can lead to legal obligations and how courts handle situations where one party has taken significant steps in reliance on a promise, only to be left in a difficult position. Using key cases like Ricketts v. Scothorn and Conrad v. Fields, we break down the elements of promissory estoppel and examine when reliance on a promise can make it enforceable. If you’ve ever found yourself relying on a promise that wasn’t part of a formal contract, this episode is for you.

Episode 10: Payback Time – Promissory Restitution (Mastering Contracts Podcast)

In this episode of Mastering Contracts, we dive into the doctrine of promissory restitution, an important remedy in contract law that allows a party to recover for benefits conferred, even when there’s no formal agreement in place. We’ll explore how courts use this doctrine to prevent unjust enrichment, ensuring that no one unfairly profits at the expense of another. Key cases like Webb v. McGowin shed light on the role of promises and benefits conferred in unusual circumstances. Tune in to learn about the limits of promissory restitution and when it applies.