BLAW10001 Lecture Notes - Lecture 6: Breach (Security Exploit), Specific Performance, All England Law Reports

• School: University of Melbourne
• Department: Business Law
• Course: BLAW10001
• Professor: Rosemary Langford

Document Summary

Parties are acting in accordance with their subjective understanding of the contract, not its objective interpretation: the effect of performance, voluntary performance discharges the obligations. Sometimes a court may o(cid:396)de(cid:396) that (cid:858)spe(cid:272)ifi(cid:272) pe(cid:396)fo(cid:396)(cid:373)a(cid:374)(cid:272)e(cid:859) a(cid:272)tuall(cid:455) (cid:271)e (cid:272)a(cid:396)(cid:396)ied out. Ho(cid:449)e(cid:448)e(cid:396), the o(cid:396)di(cid:374)a(cid:396)(cid:455) remedy for breach is payment of damages instead of performance; in a certain circumstances, you may also be given the right to terminate the contract (ie. refuse to accept any further performance from the other party). These remedies discharge the outstanding obligations: excusing performance. Parties may be excused from performing their contract if: The contract is set aside because of the presence of a vitiating factor (lecture 8) If a promise is impossible from the outset it does not create enforceable obligation. The sale of a non-existing thing: this is really just an example of the vitiating factor mistake, supervening impossible/frustration.