Understanding Terminating

alyssaimani35
Mind Map by alyssaimani35, updated more than 1 year ago
alyssaimani35
Created by alyssaimani35 almost 5 years ago
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Understanding Terminating
1 Accord and Satisfaction

Annotations:

  • substitute one contract for another
1.1 Actual Damages

Annotations:

  • Damages DIRECTLY related to breach
1.1.1 Anticipation Breach

Annotations:

  • notified that a party to the contract will not fulfill their part of the contract prior to the required time of fulfillment
1.1.1.1 Assignee

Annotations:

  • party to whom right is transferred
1.1.1.1.1 Assignor

Annotations:

  • party who transfers the right
1.1.1.1.1.1 Assignment

Annotations:

  • legally transferring your RIGHTS in a contract
1.1.1.1.1.1.1 Breaching a contact

Annotations:

  • wrongful failure to perform one or more promises in a contract
2 Compensatory Damages

Annotations:

  • award only for injuries suffered- nothing more
2.1 Complete Performances

Annotations:

  • all terms have been carried out properly and completely
2.1.1 Consequential Damages

Annotations:

  • damages that DO NOT flow directly from the breach
2.1.1.1 Delegation

Annotations:

  • transfer a duty
2.1.1.1.1 Incidental Damages

Annotations:

  • reasonable expenses that arise INDIRECTLY from breach of contract
2.1.1.1.1.1 Injuction

Annotations:

  • court order that prevents a party from performing an act
2.1.1.1.1.1.1 Wrongful Alteration

Annotations:

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

Annotations:

  • anticipated damages agreed upon prior to contract being signed 
3.1 Mutual Release

Annotations:

  • each side releases the other side from the contract
3.1.1 Nominal Damages

Annotations:

  • award to prove legal injury but no damages caused
3.1.1.1 Punitive Damages

Annotations:

  • damages in excess of losses suffered in order to punish party for breach
3.1.1.1.1 Satisfactory Performance

Annotations:

  • law requires that services be completed in s satisfactory manner
3.1.1.1.1.1 Speculative

Annotations:

  • damages awarded not on fact but on expectations from contract fulfillment
3.1.1.1.1.1.1 Statue of Limitations

Annotations:

  • Individual states have a time limit on lawsuits to be filef
4 Substantial Performance

Annotations:

  • Slightly less than full performance
4.1 Tender of Performance

Annotations:

  • offer to perform
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