SYLLABUS

The CLASS SCHEDULE, a separate handout, lists the material to be covered during each class session. The CLASS SCHEDULE may be revised during the term; it is each student's responsibility to consult the most recent version.

I. In General

The purpose of this course is to introduce the students to the basic principles of contract law. All commercial activities depend on contracts, and thus contract law. If there were no such thing as contract law, it would be impossible to engage in any business activity - persons could only exchange one item for another, in person and contemporaneously. Even if one person agrees to work for another for one-half hour for $10, one of the two parties must rely on the other to keep her or his promise. Contract law is what makes some promises (not all) enforceable by a court. If a contract exists, both parties can rely on the court to enforce the other party's promise.

In this course, students will have to opportunity to learn what is required to create an enforceable contract, and what a court might do if the contract is not performed. The primary emphasis is on the contract law of the United States. However, as the course text's title implies, the contract law of other countries will be discussed. In most situations there are few differences between the contract law of various countries around the world. There are differences in detail and, of course, details can be important in any given situation. Since this is a one-credit-hour course, the course can only be an introduction (and would still be even if it were limited to one contract-law regime).

Since there is no generally published text for a course such as this, the course text is a combination of parts of two general texts, with an additional appendix. The majority of the text deals with Common Law contract law and the Uniform Commercial Code (UCC), which are the principal contract-law regimes in the United States. That portion also includes references to portions of the contract law of the Peoples Republic of China, principally for comparative purposes. The smaller portion of the text deals principally with the United Nations "Covenant for the International Sale of Goods" (CISG), which potentially governs contracts between U.S. persons and foreign persons. Finally, an appendix provides excerpts from the Civil Code of the Republic of Kazakhstan as a more complete example of a non-U.S. contract-law regime. (It would be a good idea to find Kazakhstan [might be "Kazakstan"or "Kazakh SSR"] on a world map.)

II. Course Materials

A. Text

1. Elements of Contract - Global, by West Publishing Company

Since this is a combination of materials from other texts, no Study Guide is available.

2. A Law Dictionary is highly recommended. The IPFW bookstore generally stocks an adequate, relatively inexpensive, paperback. No particular law dictionary is recommended, so long as it is a law dictionary, not a general or "standard" dictionary.

B. Handouts

1. This Syllabus

2. Class Schedule (including revisions)

3. Other materials distributed in class and/or on website

C. Supplies

1. Pens or pencils for quizzes

2. Pencils and a GOOD, CLEAN eraser for exams

3. Open, inquisitive mind

III. Recommended Study Procedures

Thorough preparation BEFORE class is essential, both to understanding class discussions and lectures, and doing well on quizzes and exams

BEFORE CLASS: To be adequately prepared, before each class:

1. Scan the assigned materials to gain a general understanding of the general topics and their inter-relationships; then

2. Carefully read the assigned material, ideally making a personal outline of the text. The presentation of the text (headings, subheadings, etc.) should assist in making an outline. Highlight any term(s) or concept(s) that are particularly difficult or not understood; then

3. Review the key terms, making sure that they are understood. The key terms are frequently, but not always, in bold print in the text. Use a law dictionary as well as the text to ascertain terms' meanings; then

4. Review any "concept summary" or table in assigned chapter(s), making sure that its substance is included in any personal outline.

DURING CLASS: Participate (which means something more active than merely keeping one's eyes partially open).

AFTER CLASS: Following class, the text, outline, and class notes should be re-read, reviewed, and arranged into a coherent whole. This may entail completely rewriting the pre-class outline. When conscientiously prepared, these post-class materials are in invaluable aid in preparing for examinations.

STUDY GROUPS: Some students may find it very helpful to form informal study groups of three to six persons. Study groups allow students to discuss and articulate the course materials in a relaxed setting. They also provide a support group of understanding persons.

IV. Class Participation

Class sessions will include discussions, hopefully with significant student participation beyond mere recitation of the information in the text. Voluntary participation in class discussions is encouraged and appreciated. Students who do not attend class will find it difficult to participate in class discussions. It is the fact of participation that is important, not if an answer or response is "right" or "wrong".

Dealing with "the Law" requires clarity, order, and precision in analysis and expression. Understanding will not be achieved, or even remotely approached, through mere memorization. Participation is the most effective method of learning. The exercise of articulating a problem's resolution and the underlying rationale makes it much more likely that the information will be understood and retained. There is a direct relationship between class participation and final grades, even if "class participation" is not a separate factor in grade calculations. Students who regularly participate in class discussions normally receive above-average grades.

Students are encouraged to ask questions. It is highly unlikely that only one student will be puzzled by a particular problem (unless the "problem" is totally unrelated to contemporary class discussions). The only "dumb" questions are those not asked. Some students who ask questions become frustrated when the instructor responds with a question. When that happens, the instructor's purpose is not to avoid answering, but to lead the student and class through the analytic process that leads to the answer to the initial question. The analytic process is often more important that the particular rule or answer.

V. Grading Factors

A. Calculation

The final grade will a composite of the grades received for quizzes and the examination, as described below.

Based on a scale of 100, passing grades are:
  90 to 100 = A
  80 to 89.99 = B
  70 to 79.99 = C
  60 to 69.66 = D

ALTERNATIVE A:

The components: Exam = 40% Quizzes = 60%

Calculation of the final grade is based on numeric scores for each component, not the related letter grade. The only time a letter grade will be given is on the final grade report.

ALTERNATIVE B:

If a student is satisfied with her or his "grade" based solely on the cumulative quiz score (calculated as discussed below), she or he can opt to NOT take the final exam. Taking the final exam will NOT result in a grade lower than the cumulative quiz scores (i.e. if the exam score is lower than the cumulative quiz score, it will not be considered in fixing the final grade).

B. Exam

Since this is a one-hour, half-semester course with only eight class sessions, there is insufficient time for more than one exam. (If one subtracts the introductory session and the exam session, that leaves only six class sessions to cover the material.) While a greater number of exams may be desirable from a grading standpoint, the amount of class time available is marginally sufficient without further reductions for exams.

The exam will be given during the final class session, as shown on the Schedule of Classes. It will be objective (multiple choice) and will cover all assigned materials.

C. Quizzes

A quiz will be given during each class session except the first and last. Each quiz may cover (a) the materials covered in the prior class session, (b) the materials assigned for the class session when the quiz is given, or (c) both (a) and (b). Quizzes will be objective, but not multiple choice (e.g. True-False, Matching, Fill-in-the-blank, etc.). Approximately 10 minutes will be given for each quiz.

For grading purposes, each quiz question will be worth one point. After the last quiz, each student's total quiz points will be calculated. The student(s) in each section with the greatest number of points will receive a "100" score for the quiz component of the final grade. All other students' quiz component will be calculated proportionally. For example if the greatest number of earned quiz points is 50 and you earned 45, your quiz-component score would be "90".

D. Make-ups (not really recommended)

Permission to take the exam or a quiz will be given only when a student has some reasonable excuse for not attending class.

For quizzes, the times/dates when a make-up quiz can be taken is generally limited to the period between the class session in which the quiz is given and the next-subsequent class session. It may be most appropriate to arrange to attend the corresponding class session of another section of this course. (See Class Schedule) Taking a make-up quiz must be arranged with the Department of Accounting and Finance secretary [481-6471] during her office hours - 9 - 5 weekdays, with an hour for lunch).

For the exam, make-up times/dates will be limited to the period between the final substantive class session (i.e. the scheduled date for "Session 7) and the time for which the exam is scheduled. It may be most appropriate to arrange to take the exam at a time scheduled for another section of this course. (See Class Schedule)