Understand Contract Law

Anotações:

• Substitution of a contract

1. Satisfactory Performance

   Anotações:

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

      Anotações:

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

Anotações:

• damages directly related to breach

Anotações:

• A party wont fulfill there part in a contract

1. Nominal Damages

   Anotações:

   • Award to prove legal injury but no damages caused

Anotações:

• party to whom right is transferred

1. Assignor

   Anotações:

   • Party who transfers the rights
   1. Wrongful Alteration

      Anotações:

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

Anotações:

• legally transferring your rights in a contract

Anotações:

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

Anotações:

• Award for injuries suffered

1. Mutual Release

   Anotações:

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

      Anotações:

      • offer to perform

Anotações:

• All terms have been carried out properly and completely

1. Statute of Limitations

   Anotações:

   • Individual states have a time on lawsuits to be filed

Anotações:

• Damages that do not flow directly from the breach

1. Substantial Performance

   Anotações:

   • Slightly less

Anotações:

• transfer of duty

1. Incidental Damages

   Anotações:

   • Reasonable expenses that arise indirectly from breach of contract

Anotações:

• Court order that prevents a party from performing an act

Anotações:

• Anticipated damages

Anotações:

• Damages in excess of losses suffered