blaw Performance, Breach and Discharge

Blaw Performance, - Performance Breach and Discharge pg 291 Discharge-termination of contractual duties Performance-also a method of discharge(once

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Performance, Breach, and Discharge pg. 291 - Discharge—termination of contractual duties - Performance—also a method of discharge (once you complete it you are done) - 4 types: performance, material breach by one or both parties, agreement of the parties, operation of law Conditions - an even whose happening or nonhappening affects a duty of performance under contract - conditions are for protection and benefit; the more conditions the less content the promise has - some must be satisfied before duty to perform, some terminate duty to perform, some limit/modify duty to perform - unconditional promises are better - breach has liabilities, nonhappenings do not Express Conditions pg. 292 - set forth in language, clearly expressed; “provided that”, “on condition that”, “if”, “while”, “after”, “upon”, “as soon as” - express conditions must be fully and literally performed BEFORE conditional duty to perform arises - Satisfaction of a contracting party : not obliged to pay unless satisfied, has to be in good faith and honest - Subjective satisfaction —(law applies this) taste, opinion, or judgment; if promisor is in good faith and dissatisfied, condition has not occurred [usually employment contracts] - Ex) Get suit customized by a tailor- if not happy- I’m not going to pay for it- if the tailor agrees to those terms in the beginning – don’t have to like it or don’t have to pay if you are not satisfied - Objective satisfaction —if contract doesn’t clearly state subjectivity or if it relates to mechanical fitness or utility (sale of building or standard goods—steel coal grain) would a reasonable person be satisfied? - Fry hires guy to repair heater- mechanical problem- objective - if it now heats the house- have to pay the guy cause he performed and a reasonable person ought to be satisfied - Satisfaction of a third party: architect inspects new home, approval (satisfaction) of a 3 rd party Implied in fact conditions - Similar to express conditions b/c they must fully and literally occur and parties must understand them to be part of the agreement. Differ b/c not stated in express language…they are inferred - Ex) Hires someone to paint home for $2000- he can select colors- implied that Fry is going to let painter know what colors he wants- painter has to notified
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This note was uploaded on 04/07/2008 for the course BLAW 3201 taught by Professor Fry during the Spring '08 term at LSU.

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Blaw Performance, - Performance Breach and Discharge pg 291 Discharge-termination of contractual duties Performance-also a method of discharge(once

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