BLAW Final Exam Notes

BLAW Final Exam Notes - BLAW Final Exam Notes Ch. 17 and...

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Unformatted text preview: BLAW Final Exam Notes Ch. 17 and some Ch. 18 Seven ways to discharge a contract: o Performance: Total performance is required in order to perform under a contract. Perfect Tender Rule: Any deviation from the promised performance in a sales contract governed by Article 2 constitutes a material breach and discharges the aggrieved party from his duty of performance. Exception: If the breaching party has substantially performed, the breaching party can still enforce the contract but recovery on contract will be reduced by damages to non breaching party. Substantial Performance: Performance that, though incomplete, does not defeat the purpose of the contract. o Must be unintentional, not affect the usefulness of the performance, and can be remedied by damages. Ex: Adam builds $300,000 house for Betty but accidentally builds something he wasnt supposed to, causing Betty $10,000. The courts would say Adams performance has been substantial, and would not consider the breach to be material. o Discharge by Breach: A wrongful failure to perform the terms of a contract. Material Breach: An unjustified failure to perform substantially the obligations promised in a contract. Material breach discharges the aggrieved party from his duty of performance. Ex: Joe orders a suit to be made of wool from Peggy. Peggy makes the suit out of cotton. If governed by common law (because the labor dominates the contract) this would be considered a material breach and Joe is discharged of his duty to pay. He may recover money damages. Rules of a material breach: o Partial performance is a material breach of a contract if it omits some essential part of the contract. Courts will consider a breach material if it is quantitatively or quty to pay. He may recover money damages. Rules of a material breach: o Partial performance is a material breach of a contract if it omits some essential part of the contract. o Courts will consider a breach material if it is quantitatively or qualitatively serious. o An intentional breach of contract is generally held to be material. Prevention of Performance: Ex: Maude contracted to grow corn for Harold and Harold destroys the seeds and crops Maude planted. Maude is discharged, but not Harold. o A failure to perform a promise promptly is a material breach if time is of the essence; parties indicated a stated time. o Parties to a contract may, within limits, specify what breaches are to be considered material. Anticipatory Repudiation: One party announces they will not perform the duty of the contract before the set date. The non breaching party may bring suit immediately, but will wait until the date to see if the party performs. If the party performs, there is a discharge by performance. If they still dont perform, there is a material breach....
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BLAW Final Exam Notes - BLAW Final Exam Notes Ch. 17 and...

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