LAW421 Contemporary Business Law Week 3 DQ

What are the essential elements necessary to form a valid contract? Provide examples of each. Under what conditions can contractual duties be modified? When does promissory estoppel apply? Provide an example.

What is the difference between a material breach of contract and a nonmaterial or partial breach? What are some examples of legal and equitable remedies available for breach of contracts? What are some legal excuses for nonperformance or other grounds for discharge of contracts? Provide examples.