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Establishing conditions in contracts [No. 86]

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. Professor Epstein is the inaugural Laurence A. Tisch Professor of Law at NYU School of Law, a Senior Fellow at the Hoover Institution, and Professor of Law Emeritus and a senior lecturer at the University of Chicago. As always, the Federalist Society takes no position on particular legal or public policy issues; all expressions of opinion are those of the speaker. Subscribe to the series’ playlist:    • Introduction to Common Law [Course] [...   RELATED LINKS Richard A. Epstein, In Defense of the Contract at Will https://chicagounbound.uchicago.edu/c... Richard Epstein, The Many Faces of Fault in Contract Law: Or How to Do Economics Right https://chicagounbound.uchicago.edu/c... UpCounsel, Features of Contingent Contract: Everything You Need to Know https://www.upcounsel.com/features-of... Lawrence Susskind, Good for You, Great for Me: Finding the Trading Zone and Winning at Win-Win Negotiation https://www.amazon.com/Good-You-Great... Guhan Subramanian, Don’t rush into a flawed contract https://www.pon.harvard.edu/daily/don... How to Create Value at the Negotiation Table: Strategies for Creating Win-Win Negotiations https://www.pon.harvard.edu/daily/neg...