- Video
Establishing Conditions in Contracts
What happens if one party doesn’t fulfill their end of the bargain in a contract? Professor Richard Epstein of NYU School of Law gives an overview of the law of simultaneous conditions, where one party doesn’t deliver and the other party therefore doesn’t need to pay, and the law of sequential conditions, which are more complicated because the transaction happens over time and an interruption of part might interfere with the remaining part of the bargain. The Doctrine of Implication, which says that skeletal terms should be provided and additional terms determined to maximize the efficiency of the relationship, governs the Law of Conditions in contracts law overall. https://youtube.com/watch?v=M9lsuscxEzQ