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URL:https://www.learndesk.us/class/4960291886465024/lesson/7b23214795ffa3ea745b226edc3dcd67?ref=outlook-calendar
SUMMARY:Essentials of a Contract
DTSTART;TZID=America/Los_Angeles:20260515T190000
DTEND;TZID=America/Los_Angeles:20260515T200000
LOCATION:https://www.learndesk.us/class/4960291886465024/lesson/7b23214795ffa3ea745b226edc3dcd67?ref=outlook-calendar
DESCRIPTION: Contract Classifications 
Oral vs. written: 
• Oral, or parol, the contract may not be enforceable.
Express vs. implied:
• Express: all terms expressly agreed to.• Implied: unintentional agreement deemed to exist due to terms implied by actions.
Bilateral vs. Unilateral: 
• Bilateral: both parties promise to perform.• Unilateral: one party performs only if the other party performs.
Executed vs. Executory:
• Executed: fully performed.• Executory: performance yet to be completed.
Contract Status 
Valid: 
• Meets all requirements
Valid but unenforceable:
• Certain oral contracts; if performed, cannot change the outcome.
Void:
• Not valid; unenforceable.
Voidable: 
• May be rescinded due to subsequent discoveries: if performed, cannot change the outcome.
Contract validity

Competent parties
• Legal age • Mental competency • Legitimate authority
Mutual consent
• Clear and unequivocal offer and acceptance with an...

https://www.learndesk.us/class/4960291886465024/lesson/7b23214795ffa3ea745b226edc3dcd67?ref=outlook-calendar
STATUS:CONFIRMED
SEQUENCE:3
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