Understanding Contract Law

Anotações:

• substitute one contract for another

1. Actual Damage

   Anotações:

   • damages directly related to breach
   1. Anticipatory Breach

      Anotações:

      • notified that a party isn't fulfill of their contract to the required time of fulfullment
      1. Assignee

         Anotações:

         • party that right is transferred 
         1. Assignment

            Anotações:

            • legally transferring your rights into a contract
            1. Assignor

               Anotações:

               • party who transfers the rights 
               1. Breaching a Contract

                  Anotações:

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

                     Anotações:

                     • award only for injuries suffered
2. Complete Performance

   Anotações:

   • all terms have been carried out properly and complete
   1. Consequential damages

      Anotações:

      • damages that do not flow to the breach
      1. Delegation

         Anotações:

         • transfer a duty 
         1. Incidental Damages

            Anotações:

            • reasonable expenses that rise indirectly from the breach of as contract
            1. Injunction

               Anotações:

               • court order that prevents a party from performing a act
               1. Liquidated Damages

                  Anotações:

                  • anticipated damages agreed upon to contract being signed
                  1. Mutual Release

                     Anotações:

                     • each side releases their side of the contract
   2. Punitive Damages

      Anotações:

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

         Anotações:

         • law requires the service be completed in a good manner 
         1. Speculative

            Anotações:

            • damages awarded not on fact but on expectations from contract fulfillment 
            1. Statue of limitations

               Anotações:

               • individual states have a time limit on lawsuits to be filed 
               1. substantial Performance

                  Anotações:

                  • slightly less than full performance 
                  1. Tender of Performance

                     Anotações:

                     • offer to perform 
                     1. Wrongful alternation

                        Anotações:

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