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In this lesson, we focus on performance in contract law, specifically identifying what constitutes performance under common law and Article 2 of the Uniform Commercial Code. We are moving beyond contract formation to analyze performance issues, examining the existence of a binding contract. When assessing a contract law scenario, the main question is whether a binding contract exists. First, we verify if there is a traditional enforceable contract by checking for mutual assent, consideration, and any potential defenses that may invalidate the contract, as well as considering whether the statute of frauds applies.