BSLW1102 Chapter Notes - Chapter 19: Rescission, Consumer Protection, Counterclaim
20 Jun 2016
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Chapter 19: discharge of contracts: conditions relating to performance, ordinary method of discharging obligations under a contract is by performance, classifications of conditions. B. 1. a) condition (b. 1. a. 1) when the occurrences or nonoccurrence of an event, expressed in a contract, affects the duty of a party tot he contract to perform. B. 1. b) condition precedent (b. 1. b. 1) is a condition that must occur before a party to a contract has na obligation to perform under the contract. B. 1. d) concurrent condition (b. 1. d. 1) mutual duties of performance under the contract are to take place simultaneously (b. 1. d. 2) pay for good to get them. Discharge by performance: normal discharge of contracts. A. 1. performance by the terms of the contract or after expiration of a period of time: nature of performance. B. 1. b) an offer to perform valid tender is unconditional payment on the correct date. B. 3. a) with multiple debts payment goes to specified debt. B. 4. a) suspends debt until check is presented for payment.
