Chapter_17

Chapter_17 - Chapter17 Performance,Breach,and Discharge...

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    Chapter 17 Performance, Breach, and  Discharge
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    Background Conditions can be expressed in a  contract, implied in fact by conduct,  implied in law to have fair decision.   Conditions are put in contracts to  protect and benefit promisor. 
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    Conditions  Express Conditions  Implied in Fact Conditions  Implied in Law Conditions  Concurrent Conditions  Conditions Precedent  Conditions Subsequent 
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    Express Conditions This condition is explicitly set forth in  contract.  They normally must be fully performed  before conditioned duty arises.  Performance normally based on  substantial satisfaction list.  
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    Express Conditions Satisfaction of a Contracting Party   If satisfaction relates to personal taste,  opinion, or judgment, law applies  subjective satisfaction   Satisfaction of Third Party   Often contracts are conditioned on  approval of third party 
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    Implied in Fact/Law Conditions Implied in Fact Conditions   This is a contingency that is understood,  but not expressed by parties.  Implied in Law Conditions   Called a constructive condition and is  imposed to prevent unfairness or injustice. 
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This note was uploaded on 03/08/2010 for the course BL 3305 taught by Professor Nunley during the Fall '09 term at Baylor.

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Chapter_17 - Chapter17 Performance,Breach,and Discharge...

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