BusinessLaw%20ch.16

BusinessLaw%20ch.16 - CHAPTER16 REMEDIES FOR BREACH OF...

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1 REMEDIES FOR BREACH OF TRADITIONAL AND E-CONTRACTS   CHAPTER 16
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2 Performance and Breach If a contractual duty (covenant) has not been discharged or excused, the contracting party owes an absolute duty to perform . breach of contract occurs when a contracting party fails to perform an absolute duty owed under a contract.
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3 Types of Performance Complete Performance Complete Performance Substantial Substantial Performance Performance Inferior Performance Inferior Performance
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4 Complete Performance Strict performance Contract is executed . Performing party discharged . Most contracts completely performed. Tender (“offer”)of performance also discharges contractual obligations.
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5 Substantial Performance Minor breach of contract. Performance deviates slightly from complete performance. Non breaching party may recover damages .
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6 Inferior Performance Material breach of contractual obligations. Nonbreaching party is excused from any further performance. Nonbreaching party may rescind contract and seek restitution, or Sue to enforce contract and seek damages.
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7 Summary: Types of Performance Type of Performan ce Legal Consequence Complete Performanc e Contract is discharged . Substantial
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This note was uploaded on 11/12/2010 for the course BUS 3213 taught by Professor Killer during the Spring '08 term at Buffalo State.

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BusinessLaw%20ch.16 - CHAPTER16 REMEDIES FOR BREACH OF...

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