understand contract law

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Resumen del Recurso

understand contract law
  1. accord & satisfaction

    Nota:

    • sub. one contract for another
    1. actual damages

      Nota:

      • damages directly related to the  breach
      1. anticipatory breach

        Nota:

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

        Nota:

        • party to whom right is transferred 
        1. assignment

          Nota:

          • legaly transfering your rights in a contract
          1. assignor

            Nota:

            • party who transfers the right
            1. breaching a contract

              Nota:

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

                Nota:

                • award only for injuries suffered
                1. complete performance

                  Nota:

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

                    Nota:

                    • damages that dont flow with the breach
                    1. delegation

                      Nota:

                      • transfer a duty
                      1. incidential damages

                        Nota:

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

                          Nota:

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

                            Nota:

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

                              Nota:

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

                                Nota:

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

                                  Nota:

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

                                    Nota:

                                    • services be done in satisfactory manner
                                    1. speculative

                                      Nota:

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

                                        Nota:

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

                                          Nota:

                                          • slightly less than full performance
                                          1. tender of performances

                                            Nota:

                                            • offer to perform
                                            1. wrongful alteration

                                              Nota:

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