Mapa mental
Understand Contract Law
Mind map: contract law
Contenido del mapa
Understand Contract Law
Accord and Satisfaction
- Substitution of a contract
- Satisfactory Performance
- law requires that services be completed in a satisfactory manner
- Speculative
- damages awarded not on fact but on expectations from contract fulfillment
Actual Damages
- damages directly related to breach
Anticipatory Breach
- A party wont fulfill there part in a contract
- Nominal Damages
- Award to prove legal injury but no damages caused
Assignee
- party to whom right is transferred
- Assignor
- Party who transfers the rights
- Wrongful Alteration
- Any altering or changing of a contract will discharge parties to the agreement
Assignment
- legally transferring your rights in a contract
Breaching a Contract
- Wrongful failure to perform 1 or more promises in a contract
Compensatory Damages
- Award for injuries suffered
- Mutual Release
- Each side gets out of the contract
- Tender of Performance
- offer to perform
Complete Performance
- All terms have been carried out properly and completely
- Statute of Limitations
- Individual states have a time on lawsuits to be filed
Consequential Damages
- Damages that do not flow directly from the breach
- Substantial Performance
- Slightly less
Delegation
- transfer of duty
- Incidental Damages
- Reasonable expenses that arise indirectly from breach of contract
Injunction
- Court order that prevents a party from performing an act
Liquidated Damages
- Anticipated damages
Punitive Damages
- Damages in excess of losses suffered