The basic principles of contract law include mutual assent, consideration, capacity and legality but the depth of contract law goes much farther. There are legal as well as accounting ramifications to contracts. This course introduces the law of contracts including contract terminology, the elements of an enforceable contract, different types of contracts, breach of contracts and arbitration. Because most contracts are governed by the legal authoritative regulations found in Article 2 of the Uniform Commercial Code, the relevant Parts 2 and 3 covering the form, formation and readjustment of contracts as well as general obligations and the construction of contracts are included.