Understand Contract Law

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• Substitution of a contract

1. Satisfactory Performance

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   • law requires that services be completed in a satisfactory manner
   1. Speculative

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      • damages awarded not on fact but on expectations from contract fulfillment 

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• damages directly related to breach

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• A party wont fulfill there part in a contract

1. Nominal Damages

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   • Award to prove legal injury but no damages caused

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• party to whom right is transferred

1. Assignor

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   • Party who transfers the rights
   1. Wrongful Alteration

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

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• legally transferring your rights in a contract

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• Wrongful failure to perform 1 or more promises in a contract

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• Award for injuries suffered

1. Mutual Release

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   • Each side gets out of the contract
   1. Tender of Performance

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      • offer to perform

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• All terms have been carried out properly and completely

1. Statute of Limitations

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   • Individual states have a time on lawsuits to be filed

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• Damages that do not flow directly from the breach

1. Substantial Performance

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   • Slightly less

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• transfer of duty

1. Incidental Damages

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   • Reasonable expenses that arise indirectly from breach of contract

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• Court order that prevents a party from performing an act

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• Anticipated damages

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• Damages in excess of losses suffered