LAW 122 Chapter Notes - Chapter 11: Condition Subsequent
21 Apr 2015
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As we learned in chapter 9 & 10, some contracts come to an end when they are voided or rescinded. Most contracts, however, are brought to an end via discharge: discharged: a contract is discharge when the parties are relieved of the need to do anything more under the contract. The most common form of discharge is performance: performance: occurs when the parties fulfill all of the obligations contained in the contract. However, in some situations it is difficult to determine whether proper performance has occurred. As a general rule the parties must performance exactly as the contract requires. A deviation from the terms is considered a breach. Although the parties generally have to perform exactly as the contract says, the courts usually hold that time is not of the essence. In other words, even if a contract states that performance must occur by a particular date, a party may be entitled to perform late.
