Management and Organizational Studies 2275A/B Lecture Notes - Lecture 3: Non-Compete Clause, Accounts Receivable, Prentice Hall

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Cristin Keller

Document Summary

This is the final chapter in the contracts part of the textbook. It provides students with information on the basic ways in which a contract comes to an end as well as introduces them to the law of remedies. As this is a challenging area, the business. Law in practice scenario is designed to be particularly student-friendly. The scenario involving breach of a construction contract -- is accessible and straightforward, thereby allowing students to focus more on the concomitant legal principles. Understand the termination of a contract by performance. Understand the termination of a contract by agreement. Understand the termination of a contract by frustration. Understand the remedies for breach of contract. Several ways in which a contract can be brought to an end. Through performance both parties complete their contractual obligations. Through agreement the parties are always free to voluntarily bring the contract to an end. Through frustration when an important, unforeseen even occurs.