actual breach

Cards (10)

What is actual breach?
party fails to perform their obligations in the contract
What is it called if it is serious?
repudiatory breach
What does repudiatory breach mean?
serious
If it is repudiatory breach what has happened?
there has been:
a breach of a condition
a refusal to perform the contract
a serious breach of an innominate term
In what ways can a breach occur?
renunciation by a party of their liabilites
impossability created by the party's own actions
total or partial failure of performance
What happened in Gearbulk Holdings?
right to terminate for non delivery was contained in the contract and classed as a condition so the contract could be ended
What is the remedy?
damages
What cna the innocent party do if the term is a condition?
entitled to also end the contract
What happens if the term is an innominate term that is then classed as a condition?
contract can be ended
What is a case example?
Gearbulk Holdings