Class 3 · Sep 1 (Tue)

What Is a Contract?

Bilateral vs unilateral; agreement vs bargain. End of Module I.

Module I: Foundations · Fall 2026

Ready

Reading

Chapter 2 (complete). Restatement (Second) § 17.

Time budget

Floor
~40 min — R2d § 1 + Steinberg. The doctrine the next class assumes you have covered.
Target
~75 min — Floor + Pappas + R2d § 2 + synthesis.
Ceiling
~110 min — Target + Practice problems + open-discussion on the synthesis question.

By the end of this class, you can

We finish Module I by closing the loop on Chapter 2 and putting two distinctions on the page that carry forward into Mutual Assent and Consideration.

Two distinctions to leave with

Bilateral vs unilateral. A bilateral contract is a promise exchanged for a promise. A unilateral contract is a promise exchanged for a performance. Most modern transactions are bilateral; the unilateral form survives in reward cases, options, and certain employment terms.

Agreement vs bargain. An agreement is the manifestation of mutual assent. A bargain is the agreement to exchange one thing for another. Every bargain is an agreement; not every agreement is a bargain.

Cases

Steinberg shows what a contract looks like when the bargain is implicit in a sequence of acts: a published bulletin, an application fee, an acceptance, a decision. Pappas shows what is not a contract: words that look like a promise but disclaim the very commitment a promise requires.

What you should be able to do at the end of Module I

Identify whether a given exchange contains a promise. Distinguish a promise from an offer, an agreement, and a bargain. Read a fact pattern and place each statement in one of those categories. Module II opens Wednesday with bargains as the doctrinal entry point to mutual assent.

Slide deck

Open slides for Class 3 →

Spacebar / arrow keys to advance. Press F for fullscreen. Click Print / PDF for handouts. PPTX export is professor-only.

Rules

Cases

Cold call

Prepare to be called on: Steinberg v. Chicago Medical School

K exercises

Notes

This is the end of Module I. We close it with the unilateral vs bilateral distinction and the agreement vs bargain distinction, both of which are doctrinal pivots that we will keep using all year.