{"id":2907,"date":"2023-02-19T16:11:06","date_gmt":"2023-02-19T16:11:06","guid":{"rendered":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/chapter\/fresh-take-5-4-what-is-a-contract\/"},"modified":"2023-07-20T23:19:19","modified_gmt":"2023-07-20T23:19:19","slug":"fresh-take-5-4-what-is-a-contract","status":"publish","type":"chapter","link":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/chapter\/fresh-take-5-4-what-is-a-contract\/","title":{"raw":"Fresh Take 5.4: What Is a Contract?","rendered":"Fresh Take 5.4: What Is a Contract?"},"content":{"raw":"<section class=\"textbox learningGoals\">\r\n<ul>\r\n \t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand what a contract is&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14720,&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand what a contract is<\/span><\/li>\r\n \t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand the four parts of a contract&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand the four parts of a contract<\/span><\/li>\r\n \t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand when a contract is breached and what you can do about it&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14720,&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand when a contract is breached and what you can do about it<\/span><\/li>\r\n \t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand warranties&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand warranties<\/span><\/li>\r\n<\/ul>\r\n<\/section>\r\n<h2>Valid Contracts<\/h2>\r\n<iframe src=\"\/\/plugin.3playmedia.com\/show?mf=3704589&amp;p3sdk_version=1.10.1&amp;p=20361&amp;pt=375&amp;video_id=50YEE4UOqGY&amp;video_target=tpm-plugin-57tzwywg-50YEE4UOqGY\" width=\"800px\" height=\"520px\" frameborder=\"0\" marginwidth=\"0px\" marginheight=\"0px\"><\/iframe>\r\n\r\nYou can view the\u00a0<a href=\"https:\/\/course-building.s3-us-west-2.amazonaws.com\/Intro+to+Business\/Transcriptions\/RequirementsForAValidContract_transcript.txt\" target=\"_blank\" rel=\"noopener\">transcript for \"Requirements for a Valid Contract\" (opens in new window)<\/a>\u00a0or the <a href=\"https:\/\/course-building.s3-us-west-2.amazonaws.com\/Intro+to+Business\/Transcriptions\/RequirementsForAValidContract_alternative.txt\" target=\"_blank\" rel=\"noopener\">text alternative for \"Requirements for a Valid Contract (opens in new window)<\/a>.\r\n<h2>Warranties<\/h2>\r\n<iframe src=\"\/\/plugin.3playmedia.com\/show?mf=3704588&amp;p3sdk_version=1.10.1&amp;p=20361&amp;pt=375&amp;video_id=DFOD8VgvePg&amp;video_target=tpm-plugin-6q8glb5n-DFOD8VgvePg\" width=\"800px\" height=\"520px\" frameborder=\"0\" marginwidth=\"0px\" marginheight=\"0px\"><\/iframe>\r\n\r\nYou can view the\u00a0<a href=\"https:\/\/course-building.s3-us-west-2.amazonaws.com\/Intro+to+Business\/Transcriptions\/LegalRightsUnderImpliedWarranties_transcript.txt\" target=\"_blank\" rel=\"noopener\">transcript for \"Legal Rights Under Implied Warranties\" (opens in new window)<\/a>\u00a0or the <a href=\"https:\/\/course-building.s3-us-west-2.amazonaws.com\/Intro+to+Business\/Transcriptions\/LegalrightsUnderImpliedWarranties_alternative.txt\" target=\"_blank\" rel=\"noopener\">text alternative for \"Legal Rights Under Implied Warranties\" (opens in new window)<\/a>.","rendered":"<section class=\"textbox learningGoals\">\n<ul>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand what a contract is&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14720,&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand what a contract is<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand the four parts of a contract&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand the four parts of a contract<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand when a contract is breached and what you can do about it&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14720,&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand when a contract is breached and what you can do about it<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand warranties&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand warranties<\/span><\/li>\n<\/ul>\n<\/section>\n<h2>Valid Contracts<\/h2>\n<p><iframe loading=\"lazy\" src=\"\/\/plugin.3playmedia.com\/show?mf=3704589&amp;p3sdk_version=1.10.1&amp;p=20361&amp;pt=375&amp;video_id=50YEE4UOqGY&amp;video_target=tpm-plugin-57tzwywg-50YEE4UOqGY\" width=\"800px\" height=\"520px\" frameborder=\"0\" marginwidth=\"0px\" marginheight=\"0px\"><\/iframe><\/p>\n<p>You can view the\u00a0<a href=\"https:\/\/course-building.s3-us-west-2.amazonaws.com\/Intro+to+Business\/Transcriptions\/RequirementsForAValidContract_transcript.txt\" target=\"_blank\" rel=\"noopener\">transcript for &#8220;Requirements for a Valid Contract&#8221; (opens in new window)<\/a>\u00a0or the <a href=\"https:\/\/course-building.s3-us-west-2.amazonaws.com\/Intro+to+Business\/Transcriptions\/RequirementsForAValidContract_alternative.txt\" target=\"_blank\" rel=\"noopener\">text alternative for &#8220;Requirements for a Valid Contract (opens in new window)<\/a>.<\/p>\n<h2>Warranties<\/h2>\n<p><iframe loading=\"lazy\" src=\"\/\/plugin.3playmedia.com\/show?mf=3704588&amp;p3sdk_version=1.10.1&amp;p=20361&amp;pt=375&amp;video_id=DFOD8VgvePg&amp;video_target=tpm-plugin-6q8glb5n-DFOD8VgvePg\" width=\"800px\" height=\"520px\" frameborder=\"0\" marginwidth=\"0px\" marginheight=\"0px\"><\/iframe><\/p>\n<p>You can view the\u00a0<a href=\"https:\/\/course-building.s3-us-west-2.amazonaws.com\/Intro+to+Business\/Transcriptions\/LegalRightsUnderImpliedWarranties_transcript.txt\" target=\"_blank\" rel=\"noopener\">transcript for &#8220;Legal Rights Under Implied Warranties&#8221; (opens in new window)<\/a>\u00a0or the <a href=\"https:\/\/course-building.s3-us-west-2.amazonaws.com\/Intro+to+Business\/Transcriptions\/LegalrightsUnderImpliedWarranties_alternative.txt\" target=\"_blank\" rel=\"noopener\">text alternative for &#8220;Legal Rights Under Implied Warranties&#8221; (opens in new window)<\/a>.<\/p>\n","protected":false},"author":21,"menu_order":26,"template":"","meta":{"_candela_citation":"[{\"type\":\"copyrighted_video\",\"description\":\"Requirements for a Valid Contract\",\"author\":\"\",\"organization\":\"James Publishing\",\"url\":\"https:\/\/youtu.be\/50YEE4UOqGY\",\"project\":\"\",\"license\":\"arr\",\"license_terms\":\"\"},{\"type\":\"copyrighted_video\",\"description\":\"Legal Rights Under Implied Warranties\",\"author\":\"\",\"organization\":\"lawinfo\",\"url\":\"https:\/\/youtu.be\/DFOD8VgvePg\",\"project\":\"\",\"license\":\"arr\",\"license_terms\":\"\"}]","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"part":2878,"module-header":"fresh_take","content_attributions":[{"type":"copyrighted_video","description":"Requirements for a Valid Contract","author":"","organization":"James Publishing","url":"https:\/\/youtu.be\/50YEE4UOqGY","project":"","license":"arr","license_terms":""},{"type":"copyrighted_video","description":"Legal Rights Under Implied Warranties","author":"","organization":"lawinfo","url":"https:\/\/youtu.be\/DFOD8VgvePg","project":"","license":"arr","license_terms":""}],"internal_book_links":[],"video_content":null,"cc_video_embed_content":{"cc_scripts":"","media_targets":[]},"try_it_collection":null,"_links":{"self":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/2907"}],"collection":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/users\/21"}],"version-history":[{"count":5,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/2907\/revisions"}],"predecessor-version":[{"id":7774,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/2907\/revisions\/7774"}],"part":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/parts\/2878"}],"metadata":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/2907\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/media?parent=2907"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapter-type?post=2907"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/contributor?post=2907"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/license?post=2907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}