ADMS 2610 Lecture Notes - Rescission, Syllogism, Specific Performance
9 Aug 2012
School
Department
Course
Professor
Document Summary
The express or implied refusal to carry out a promise made under a contract is a form of discharge. Breach: a right to damages, rescission or both. Repudiation (a refusal to perform a contract: can be expressed or implied, when a party expressly repudiates a promise to perform, it is said to be an express breach. Condition (an essential term of a contract: breach of which allows the other party to end the contract. Repudiation (implied: occurs when the repudiation must be ascertained from the actions of a party or implied from statements made before the time fixed for performance. Doctrine of substantial performance: cannot rescind a contract if it has been substantially performed. Subsidiary promise: warranties where a sale of goods is concerned, allow for damages but not rescission. Fundamental breach a breach of the contract that goes to the root of the agreement. Allows injured party to rescind contract and sue for damages.
