BLAWch17

promise without condition

"I will give you my phone"

promise with condition

"I will give you my phone when you're done with your homework"

discharge by

• - condition
• - performance
• - breach
• - agreement of the parties
• - operation of law

contract is based on a condition

conditions precedent -- event must occur before performance is due (perform once sth happens)

conditions subsequent -- event terminates a duty to perform (perform until sth happens)

contractual condition was met/not met

all parties perform according to the contract

wrongful failure to perform according to contract

material breach -- essential duty has not been performed

minor breach -- minor part of the contract has not been performed

the contract

material breach -- NBP is discharged from any further duty under the contract and can recover damages

minor breach -- NBP can recover damages, but is not discharged

incomplete performance that does not defeat purpose of contract

mutual rescission -- both agree to terminate original contract

substituted contract -- new contract that replaces the original

accord and satisfaction -- substitute a duty in the contract

novation -- substitute a party of a contract

impossibility -- performance cannot be done

commercial impracticability -- performance could be done under unforeseen and unjust hardship

destruction of subject matter -- contract subject does not longer exist

subsequent illegality -- contract objective becomes illegal

bankruptcy -- discharge by court order

statute of limitations -- too much time has passed

• subjective impossibility
• -- promisor cannot perform
• => no discharge

• objective impossibility
• -- no one could perform duty
• => discharge