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In this lesson, the focus is on performance within contract law, specifically under common law and Article 2 of the Uniform Commercial Code (UCC). The discussion is positioned within the broader context of contract analysis, moving from formation to performance. The key question is whether a binding contract exists (referred to as a "bdocHub" of contract). To determine the existence of a traditional enforceable contract, several factors are examined: mutual consent, consideration, any defenses that might invalidate the contract, and whether the statute of frauds applies. These components are crucial for understanding the obligations arising from the contract.