Contracts Rules Outline |Intent to Contract: | |Applicability of the UCC: Uniform Commercial Code applies to contracts for the sale of goods | |Unilateral Contract: A contract in which a Promise is exchanged for an action | |Bilateral Contract: A contract in which a
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Contract Performance: Conditions, Breach, and Remedies Learning Outcomes Checklist After studying this chapter, students who have mastered the material will be able to: Define what a condition is used for in a contract and distinguish conditions precedent from conditions subsequent. Apply the doctrines related to good faith performance, discharge of a contract, and substantial performance. Identify the ethical dilemmas that a manager faces in the context of good faith performance. Articulate
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are selective in nature and scope. The notes are for academic purposes only. Lecture 10 Law of Contract: Discharge of the Contract INTRODUCTION In this lecture, we will first discuss a number of ways in which a contract can be discharged (that is, brought to an end), including the right of termination for major breach of contract. We will then consider the issue of breach of contract in further detail, with a focus on the common law remedy of damages together with the principles by which
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four ways contracts come to an end To discuss remedies for failed or improper performance General rule: Every contract comes to an end in one of four ways: 1. Performance 2. Breach 3. Discharge 4. Frustration 1. PERFORMANCE Occurs when the parties do what they agreed to do But, when is a contract fully performed? Must a contract be fully performed in each and every particular? Or are there some acts of performance that fall short
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DISCHARGEMENT OF CONTRACT The law of contracts forms a substantial part of our various relationships that can have some sort of influence over us on an almost daily basis – even when there is no physical contract in front of us we may still be privy to some sort of contractual obligation. Alternatively, if you’re a fan of social theorists such as Jean-Jacques Rousseau, you may argue that we’re also bound by ‘the social contract’, but we digress. Getting back to our original point
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material breach of the contract. Therefore, specific performance is not available as a remedy. A contract is an agreement between two parties that creates an obligation to do or not do something. Therefore, a breach of contract occurs when one or more of the parties fail to honor his or her responsibilities of the contract; thereby subjugating himself or herself to the legal system (“Breach of contract,” 2011). If one or more party (responsible for the completion of the contract) has failed to perform
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INTRODUCTION Frustration of contract is employed when performance of the obligations by any of the parties becomes impossible due to external factors without any fault of any of the parties. It must be remembered that it applies to those cases of subsequent impossibility and not to those which are impossible right from the outset. The doctrine of frustration was devised for a different class of cases of contracts in which the circumstances so occur that the execution of the contract as required by the terms
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to a contract is not given full or accurate information by the other party about the contract subject matter, misrepresentation occurs. In the case of misrepresentation in the formation of a contract, the law allows a rescission of the contract. Rescission means the contract is set aside. Misrepresentation occurs when a seller makes inaccurate statements about its product or fails to disclose pertinent information about its product that would affect someone’s decision to enter into the contract. To
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Public Policy and Administration Research ISSN 2224-5731(Paper) ISSN 2225-0972(Online) Vol.3, No.6, 2013 www.iiste.org Influence of Performance Contract on Public Service Delivery in Kenya: Study of Registration of Persons Kericho District 1. Thomas Gekonde School of Law Mount Kenya University, P.O Box 2591, Eldoret-Kenya Tel: +254 721 206 387, Email: t.gekonde@yahoo.com 2. Dr Pamela Ochieng, Associate Dean Mount Kenya University School of Post Graduate Studies, P.O. Box 2591,
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Step 2: Identify the principle of law The right to terminate performance on grounds of breach of contract is a remedy that originated in the common law courts. It consists of rejecting a defaulting party’s flawed performance and/or putting a stop to further performance of the contract. Termination right to perform consists of: -Termination of performance is only available as a remedy for relatively serious breaches of contract or another word is breach of condition. Associated Newspaper
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