BBG 231 Lecture Notes - Lecture 16: Security Interest, Court Costs, Tunxis Community College
6 Jan 2021
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Document Summary
Performance and discharge: there are a number of legal concepts that may result in the termination or discharge of the parties" obligations under a contract. What are these legal concepts ? it means conditions and bottom. Ex: goods sold under a sale or return policy. Retailer purchases watches on sale or return policy . Obligation to 20 watches: conditions concurrent: when the parties under a contract are required to perform simultaneously, ex: farmer agrees to sell 100 bushels of corn to retailer for per bushel, payment on delivery. Applicable where full and exact performance of every detail of the contract has not been rendered but where there has been a good-faith attempt to perform the agreement, resulting in substantial compliance. Ex: contraction contract (b) doctrine of partial performance. When a portion of the required performance is not completed, generally intentionally.
