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[MUSIC PLAYING] CHARLES FRIED: Contracts are everywhere-- not just some huge formal agreement between large corporations, where one is going to buy the other, so on, although thats what something like that looks like. But, as a matter of fact, its everywhere. You go through them, I dont know how many times in the course of a day. You go into a parking garage. They give you a stub. Now, thats a contract. Theyre going to look after your car, more or less. And youre going to pay them. You walk in to your dry cleaners, and you drop off your suit. And the person behind the desk gives you a receipt. Well, thats important, because thats how theyre going to know which suit is yours. But that receipt is also a contract. And even if there wasnt a receipt, youre dropping it off there, and coming back a couple of days later and picking up the suit. Well, they expect to get paid, and you expect to pay them. Thats a contract. You walk into a restaurant, you order the steak and chips and
