LAW 122 Lecture Notes - Lecture 10: Condition Subsequent, Executory Contract, Rescission

• School: Ryerson University
• Department: Law and Business
• Course: LAW 122
• Professor: Alon-Shenker Pnina

Document Summary

As we have seen, some contracts end in avoidance or rescission treated as if they never existed (chapters 9 & 10) Most contracts, however, end in discharge parties relieved of need to perform in future. Grounds for discharge: performance agreement operation of law breach https://de. ryerson. ca/de_courses/templates/m/?c=fb87582825f9d28a8d42c5e5e5e8b23d. Parties may agree to discharge contract option to terminate conditions rescission accord and satisfaction release variation novation waiver. By option to terminate we mean unilateral right to discharge the option is inserted into the contract at the outset one party is allowed to terminate the contract discharge is often subject to restrictions https://de. ryerson. ca/de_courses/templates/m/?c=fb87582825f9d28a8d42c5e5e5e8b23d. 2017-12-02, 10(03 am e. g. employment terminable only on two months notice. Conditional contract is one where parties agree that contract is affected by event. types of conditions condition subsequent true condition precedent condition precedent. A condition subsequent means that the contract ends if the specified event occurs e. g. open-air concert will be cancelled if there will be bad weather.