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In this lesson, the focus is on understanding performance in contract law, specifically under common law and Article 2 of the Uniform Commercial Code (UCC). The discussion is a continuation from contract formation to performance, assessing whether a binding contract exists. When analyzing a contract law fact pattern, it’s important to determine if there is a valid contract by checking for mutual consent, consideration, any defenses to enforceability, and whether the statute of frauds applies. This foundational understanding is crucial for addressing the performance issues related to contracts.