LAW 122 Lecture Notes - Lecture 11: Specific Performance, Force Majeure, Dairy Product

• School: Ryerson University
• Department: Law and Business
• Course: LAW 122
• Professor: Stan Benda

Document Summary

A contract can be discharged through the performance of its terms (obligations) The parties must perform exactly as the contract requires. Exceptions : late performance is still performance, substantial performance is still performance, eg builder and missing doorknob, objective test reasonable person. New agreement to end old agreement (contract) must also be contract in order to be enforced. Parties agree (accord) that one party will give the other some new consideration (satisfaction) to give up right to performance of original obligation discharge the second party from further performance if the second party gives new consideration. Arises where one part has completed their contractual promise and agrees to. Farmer and customer agree that apples will be provided instead. Contract to deliver organic tomatoes in consideration for payment. Customer pays but no more tomatoes season is over. Release promise not to pursue contractual right: customer promises farmer it"s not a problem, not enforceable unless under seal.