GENB 4350 CH 14

  1. when a party to a contract in good faith, executes all of the promised  terms and conditions of the contract with the exception of minor details that do not affect the real intent of their agreement
    substantial performance
  2. an offer to perform that is aconsidered evidence  of a  party's willingness to fulfill the terms of a contract
    tender of performance
  3. an offer  to provide the goods  agreed  upon that is considered evidence of a party's  willingness to fulfill the terms of a contract
    tender of goods
  4. a money offer of payment of  an obligation
    tender of payment
  5. a doctrine that states that where both parties know the purpose of a contract and through no fault of either party, the reason for the contract no longer exists, the contract is terminated
    frustration of purpose
  6. a deliberate change or alteration of an importnat element in a contract that affects the rights or obligations of  the parties
    material alteration
  7. when a party to a contract  refuses to perform as required by a contract or performs in an unsatisfactory manner
    breach of contract
  8. when a party to a contract announces his or her intention to break th conract in the future
    anticipatory breach
  9. the obligaion of the injured party to protect  the other party from any unnecessary damages
  10. a written promise to pay a specified sum of money
    promissory note
  11. a statement wherein damages  are explicitly set in the event one  of the parties  breaches  an agreement
    liquidated damages clause
  12. a court order directing  a person to perform or not to perform as he or she agreed to do in the contract
    specific performance
  13. a court order prohibiting th  performance of a certain act
    restraining order
  14. a peermanent order prohibiting the performance of a certain act
Card Set
GENB 4350 CH 14
GENB 4350 CH 14