ADMS2610-Session3-Ch14

ADMS2610-Session3-Ch14 - ADMS2610 Session 3 Chapter 14 (pg....

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ADMS2610 Session 3 Chapter 14 (pg. 247-261) Breach of Contract and remedies Nature of Breach of Contract - The express or implied refusal to carry out a promise made under a contract is a form of discharge - Breach o A right to damages, rescission or both - Repudiation (a refusal to perform a contract) o Can be expressed or implied o When a party expressly repudiates a promise to perform, it is said to be an express breach - Condition (an essential term of a contract) o Breach of which allows the other party to end the contract - Anticipatory Breach (an advance determination that a party will not perform when the time for performance arrives) o If anticipatory breach of a condition, may end the contract or continue with the contract o If continue, one takes the chance the contract may be discharged in another way in the interim - Repudiation (Implied) o Occurs when the repudiation must be ascertained from the actions of a party or implied from statements made before the time fixed for performance - Doctrine of Substantial Performance o Cannot rescind a contract if it has been substantially performed - Subsidiary Promise o Warranties where a sale of goods is concerned o Allow for damages but not rescission Fundamental Breach
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ADMS2610-Session3-Ch14 - ADMS2610 Session 3 Chapter 14 (pg....

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