Chapter 13

Cards (13)

  • All term of a contract has to be followed by the parties, anything less is a breach of contract.
  • What is an act of performing a contract or the offer of payment of money that is due under a contract.
    Tender
  • Failure to perform the terms of a contract.
    Beach of contract
  • Terms that the parties agreed upon and term that are stated in the contractual document.
    Express terms
  • Conditions that alters the rights and duties of the parties to a contract, or that may have terminate the contract if it occurs.
    Condition subsequent
  • Major, unforeseen events outside the control of the parties that occurs that prevents performance of a contract.
    Force majeure
  • Natural disasters that is beyond human control that prevents performance.
    Act of God
  • Words or provisions that a court assumes were intended to be included in a contract.
    Implied terms
  • When a contract becomes impossible to perform due to an event that is not the fault of any of the parties , and that they could not have predicted.
    Frustrated contract
  • Condition that must be satesfied before a contract may come into effect.
    Condition precedent
  • Express or implied to give up a right or claim
    Waiver
  • Mutual agreement to change the terms or parties to an existing agreement
    Novation
  • Major alteration of an agreement that has the effect of discharging the contract and replacing it with agreement.
    Material alteration