WEEK 11 100% 50/50
In most contracts, promises of performance are not expressly conditioned.
An express condition is often prefaced by the word
A condition is a qualification in a contract based on a future event that is certain to occur.
A contract comes to an end when both parties fulfill their respective duties by performing the acts
they have promised.
When a party’s performance is perfect, it is said to be complete.
Anything less than complete performance is a material breach of contract.
Any breach discharges the nonbreaching party from the contract.
Anticipatory repudiation discharges the repudiating party’s obligations under a contract.
If no time for performance is stated in a contract, a reasonable time is implied.
Contracts that are executory on both sides can be rescinded by agreement.
A novation requires the existence of a previous, valid obligation.
The law allows an innocent party to be discharged when the other party has materially altered a
written contract without consent.
impossibility of performance can discharge a contract.