Summary

The video covers the concept of contracts in common law, emphasizing that contracts are always between living individuals, not corporations. The speaker explains that people cannot have contracts with corporations like Bank of America, but rather with the CEO or other officers of the company. The discussion then moves to the idea of conditional acceptance letters, where individuals may contract directly with CEOs, judges, attorneys, and other officials. The speaker also outlines the four responses to an offer in common law: acceptance, tacit acceptance (acquiescence), discussion/dispute, and conditional acceptance. Examples are provided to illustrate each type of response.

Highlights

Contracts in Common Law: Individuals vs. Corporations

The speaker explains that in common law, contracts are always between living men and women, not corporations. They use Bank of America as an example, stating that when you have a credit card with them, you don’t actually have a contract with the corporation, but potentially with the CEO or other officers. The speaker emphasizes that corporations are ‘dead entities’ and cannot sign contracts.

Conditional Acceptance Letters and Contracting with Officials

The speaker discusses the concept of conditional acceptance letters, mentioning that individuals may start contracting directly with CEOs of banks and corporations, judges, attorneys, law enforcement officials, state attorney generals, and even the US Secretary of the Treasury. They stress that these contracts are with individual human beings, even if they are doing business within a corporation.

Four Responses to an Offer in Common Law

The speaker outlines the four possible responses to an offer in common law: 1) Acceptance – unconditional agreement to the offer. 2) Tacit acceptance or acquiescence – silent agreement. 3) Discussion and dispute – questioning the offer. 4) Conditional acceptance – agreeing under certain conditions. The speaker provides examples for each type of response, such as accepting an offer for lunch or coffee under various circumstances.