Management and Organizational Studies 2275A/B Lecture Notes - Lecture 9: Institute For Operations Research And The Management Sciences, Equitable Remedy, Clean Hands

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: James Fraser Hildebrand

Document Summary

When both parties complete their contracts to satisfaction. Complete performance is not necessary for it to be considered performed. If failure to perform something is minor or insignificant then a man is bless. Substantial performance when major term is breached, but still somewhat completed. Ex. farmer delivers 3980kg of potatoes when 4000kg is needed. That is a breach in which the farmer is paid for the delivery and is discharged. Tender of performance when mans are willing and able to complete the contractual obligation but the other party is buggin and snakes the mandem. Involves failure of breaching party to perform contractual obligations. Can happen by either refusal to handle it or improper/incomplete performance. Conditions: major terms of the contract, vital to substantial performance: breach. Warranties: minor, non-essential terms that are the peripheral to the central obligation. Ex. signs that say not responsible for lost or stolen ____ .