Contract Law Basics

This lecture covers the fundamental concepts of contract law, emphasizing that a contract is based on the will of the parties involved. The instructor explains how a contract can be formed without a written document, highlighting the importance of clear communication and mutual agreement. Various examples are provided, illustrating the significance of written contracts in complex transactions. The lecture also delves into real rights, contrasting them with personal rights, and discusses the obligations and rights of tenants and landlords. Additionally, the instructor explores the notion of property ownership, including the responsibilities and limitations that come with it. The session concludes with a discussion on legal capacity, discernment, and the implications of minors engaging in contractual agreements.