{"id":313,"date":"2015-04-21T18:29:41","date_gmt":"2015-04-21T18:29:41","guid":{"rendered":"https:\/\/courses.candelalearning.com\/masterybusiness1xngcxmaster\/?post_type=chapter&#038;p=313"},"modified":"2024-05-03T15:31:28","modified_gmt":"2024-05-03T15:31:28","slug":"introduction-to-contracts","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/chapter\/introduction-to-contracts\/","title":{"raw":"Introduction to Contracts","rendered":"Introduction to Contracts"},"content":{"raw":"<h2>What you\u2019ll learn to do: list and\u00a0describe\u00a0the elements\u00a0of a legally enforceable contract, and explain the consequences of breach of contract<\/h2>\r\nThis section is an introduction to contract law, legislation that governs the majority of our business and professional dealings. We will define and discuss contracts, including the four required elements of a valid or legally enforceable contract, and highlight exceptions and the related statute. We\u2019ll also define \u201cbreach of contract\u201d and discuss the remedies for a breach, how damages are calculated, and what\u2019s required to prevail under different scenarios. Key terms and concepts presented include contract, consideration, capacity, legality, breach of contract, expectation interest, reliance interest, restitution interest, and specific performance.","rendered":"<h2>What you\u2019ll learn to do: list and\u00a0describe\u00a0the elements\u00a0of a legally enforceable contract, and explain the consequences of breach of contract<\/h2>\n<p>This section is an introduction to contract law, legislation that governs the majority of our business and professional dealings. We will define and discuss contracts, including the four required elements of a valid or legally enforceable contract, and highlight exceptions and the related statute. We\u2019ll also define \u201cbreach of contract\u201d and discuss the remedies for a breach, how damages are calculated, and what\u2019s required to prevail under different scenarios. Key terms and concepts presented include contract, consideration, capacity, legality, breach of contract, expectation interest, reliance interest, restitution interest, and specific performance.<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-313\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Introduction to Contracts. <strong>Authored by<\/strong>: Nina Burokas. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":78,"menu_order":16,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Introduction to Contracts\",\"author\":\"Nina Burokas\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"1ead3e74-3f87-4990-adf5-29d31a051943","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-313","chapter","type-chapter","status-publish","hentry"],"part":84,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/users\/78"}],"version-history":[{"count":30,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/313\/revisions"}],"predecessor-version":[{"id":15324,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/313\/revisions\/15324"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/parts\/84"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/313\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/media?parent=313"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapter-type?post=313"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/contributor?post=313"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/license?post=313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}