Contract Law: Contract Modification & The Preexisting Duty Rule [LEAP Preview]

Описание: Want the rest of this video? Unlock the full lesson — plus 200+ videos, outlines, study aids, and more — for just $29/month: https://www.studicata.com

00:00 Introduction to Contract Modifications
We revisit contract formation and shift focus to how modifications work under common law and the UCC.

03:10 Common Law vs. UCC: Key Distinction
Under common law, modifications require new consideration—unlike the UCC, which applies a good faith standard.

04:47 Classic Lease Example Setup
A standard lease agreement between landlord and tenant is used to illustrate how contract modifications are analyzed.

08:15 The Modification: Lowering the Rent
The tenant, facing financial hardship, proposes to lower rent for the final month—and both parties agree in writing.

10:45 Can the Landlord Still Recover the Full Amount?
We examine whether the landlord can sue for the $500 difference despite agreeing to the reduced payment.

11:48 Why the Modification Fails Under Common Law
Because the tenant had a pre-existing duty to pay $2,000, the modification to $1,500 lacks new consideration and is invalid.

15:38 What Would Make the Modification Valid?
The video ends by teasing what the tenant could have done differently to provide valid consideration and enforce the modified agreement.

Thinking about using Studicata? You’re in good company.
✅ Trusted by 100,000+ law students and bar takers
✅ Featured and recommended by top law schools
✅ Named the 81st fastest-growing education company in the U.S. by Inc.

See why so many future lawyers choose us to study smarter—not harder:
👉 https://www.studicata.com