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understand contract law

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meh
alan bernal
Mind Map by alan bernal, updated more than 1 year ago
alan bernal
Created by alan bernal over 6 years ago
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Resource summary

understand contract law
  1. accord & satisfaction

    Annotations:

    • sub. one contract for another
    1. actual damages

      Annotations:

      • damages directly related to the  breach
      1. anticipatory breach

        Annotations:

        • notified that a party to the contract will not fulfill their part of the contract
      2. assignee

        Annotations:

        • party to whom right is transferred 
        1. assignment

          Annotations:

          • legaly transfering your rights in a contract
          1. assignor

            Annotations:

            • party who transfers the right
            1. breaching a contract

              Annotations:

              • failure to preform a promise or 2 in a contract
              1. compensatory damages

                Annotations:

                • award only for injuries suffered
                1. complete performance

                  Annotations:

                  • all terms have been carried out properly and completed
                  1. consequential damages

                    Annotations:

                    • damages that dont flow with the breach
                    1. delegation

                      Annotations:

                      • transfer a duty
                      1. incidential damages

                        Annotations:

                        • reasonable expenses that arise indirectly to the breach of the contract
                        1. injunction

                          Annotations:

                          • court order that prevents a party from performing an act
                          1. liquidated damages

                            Annotations:

                            • anticipated damages agreed upon prior to contract being signed
                            1. mutual release

                              Annotations:

                              • each side releases the other from the contract 
                              1. nominal damages

                                Annotations:

                                • award to prove legal injury but no damages caused
                                1. punitive damages

                                  Annotations:

                                  • damages in excess of losses suffered in order to punish party for breach
                                  1. satisfactory performance

                                    Annotations:

                                    • services be done in satisfactory manner
                                    1. speculative

                                      Annotations:

                                      • damages awarded on expectations from contract fulfillment
                                      1. statute of limitations

                                        Annotations:

                                        • individual states have a time limit on lawsuits to be fined
                                        1. substantial performance

                                          Annotations:

                                          • slightly less than full performance
                                          1. tender of performances

                                            Annotations:

                                            • offer to perform
                                            1. wrongful alteration

                                              Annotations:

                                              • any altering or changing of a contract will discharge parties to the agreement 
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