Week 2: Contract Formation and the Role of 3rd Parties in Contractual Relationships
Assignment: Video Journal
Weekly Learning Objective: Learner will discuss the elements necessary to form a binding contract.
Using the Video Journal Rubric listed below for the specific grading criteria, complete a face-visible video using the Kaltura multimedia recording software based on the following:
Your textbook states that, as a general rule, an agreement without consideration will not be an enforceable contract, because consideration is so important as the binding element within a contractual relationship. Research and explain why this is so. In so doing, define and discuss the concept of consideration, including within your discussion the distinction between adequacy of consideration and sufficiency of consideration. Video Requirements: Using the following tutorials to set up, use and submit your video recording. Record a minimum of a 5-minute face-visible video addressing the information above.
• Video Recording Best Practices Tip for Submission: Under Assignment Submission, click the submission link for your assignment. Select Submission>Mashups>Kaltura Media. It will open My Media. Select the recorded video you wish to submit. Video Journal Rubric Due by Day 5, 11:59pm ET. Submit in Assignments via the left-hand navigation menu.