Mapa mental
Understanding Terminating
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Understanding Terminating
Accord and Satisfaction
- substitute one contract for another
- Actual Damages
- Damages DIRECTLY related to breach
- Anticipation Breach
- notified that a party to the contract will not fulfill their part of the contract prior to the required time of fulfillment
- Assignee
- party to whom right is transferred
- Assignor
- party who transfers the right
- Assignment
- legally transferring your RIGHTS in a contract
- Breaching a contact
- wrongful failure to perform one or more promises in a contract
Compensatory Damages
- award only for injuries suffered- nothing more
- Complete Performances
- all terms have been carried out properly and completely
- Consequential Damages
- damages that DO NOT flow directly from the breach
- Delegation
- transfer a duty
- Incidental Damages
- reasonable expenses that arise INDIRECTLY from breach of contract
- Injuction
- court order that prevents a party from performing an act
- Wrongful Alteration
- any altering or changing of a contract will discharge parties to the agreement
Liquidated Damages
- anticipated damages agreed upon prior to contract being signed
- Mutual Release
- each side releases the other side from the contract
- Nominal Damages
- award to prove legal injury but no damages caused
- Punitive Damages
- damages in excess of losses suffered in order to punish party for breach
- Satisfactory Performance
- law requires that services be completed in s satisfactory manner
- Speculative
- damages awarded not on fact but on expectations from contract fulfillment
- Statue of Limitations
- Individual states have a time limit on lawsuits to be filef
Substantial Performance
- Slightly less than full performance
- Tender of Performance
- offer to perform