A valid contract requires a "meeting of the minds. A person may not bring or maintain an action to recover damages or money due for breach of contract or to enforce the specific performance of a contract.This challenging and practical course is a 12-session survey of contract law, practical negotiation skills, and comparative theory. In Michigan, contract law specifically refers to the set of laws that govern the formation, execution and breach of contracts. To prove a breach of contract in Michigan, you must establish that the other party failed to fulfill their contractual obligations in a material way. Formation of Contracts: A valid contract in Michigan typically requires an offer, acceptance, mutual consent, consideration, and competent parties. Business contracts are vital to our economy. You are viewing a sample. To learn more about ICLE's online subscription services, visit the store. Contract law has evolved over the centuries.