BU231 Lecture Notes - Lecture 9: Opportunity Cost, Fundamental Breach, Air Canada
Document Summary
Discharge & breach bringing a contract to an end. People who booked hotels argued they did not need to pay because there is no longer a coronation happening. Frustration: mistake a to existence of the subject matter. A properly formed contract is over, it is at an end. Goal of bankruptcy: take all contracts that have to been paid (debts) and say you do not need to pay anymore = discharging a contract. Express repudiation: i tell you ahead of time i know next week on friday i am supposed to buy your house but i don"t have the money so i wont be able to. I am telling you now ahead of time. No i except to see you next friday with the money (insisting on performance on the day and rejecting their express repudiation) Why would they tell you early that they are suing you for breach.
