MCS 3040 Chapter Notes - Chapter 9: Non-Compete Clause, Specific Performance, Equitable Remedy

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 3040
• Professor: Andrew Mac Dougall

Document Summary

Several ways in which a contract can be brought to an end. Through performance (cid:28708) both parties complete their contractual obligations. Through agreement (cid:28708) the parties are always free to voluntarily bring the contract to an end. Through frustration(cid:28709)when an important, unforeseen even occurs. Through breach (cid:28708) a serious breach can release the innocent party from continuing with the contract. A contract ordinarily comes to an end not due to breach, frustration or agreement, but because the contract has been fulfilled by both sides. Given that the norm in the area of termination of contracts is performance, it coincides with the risk management theme of the textbook (cid:28708) a matter discussed in more detail below. Performance is complete when all implied and express promises have been fulfilled. Does not necessarily mean the relationship ends. Parties may continue to do business by means of new, continuing, and overlapping contracts.