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all right welcome back for contract law so this is the last of the new material for the first exam so without any further ado alright so the idea behind a contract is to document formal agreements and so when we think about contracts the vast majority of the time theyre in writing and so those contracts include things like loan agreements they include in the case of sport rather than in our own financial lives you would write a contracts for sponsorship deals you would write off for employment contracts for players or coaches or whomever you also use contracts for games you also use them for like concessions and bending so there are a variety of different types of contracts that youre gonna see in a sport and recreation thing again the vast majority of those when we think about a contract we think about them in writing which we want because the whole idea of a contract is to document formal agreements now strictly speaking they dont actually have to be in writing now if theyre not