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complete performance
renders performance exactly as required by the contract, third parties contractual duties are discharged
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substantial performance
deviates only slightly from complete performace, minor breach; party may recover damages
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inferior performance
fails to perform in way that impairs or destroys contract, material breach; rescind and recover restitution or affirm and recover damages
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anticipatory breach
will not perform when due, may sue for breach of contract
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compensatory damges
compensate for loss of contract, must make effort to reduce resulting damages
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consequential damges
forseeable damges that arise from outside contract that party should have known
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liquidated damages
agreed upon in advance, substitute for actual damages; actual damages must be diffiult to determine, reasonable estimate of harm
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nominal damges
awarded on principle, small damages
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rescission
action by nonbreaching party to undo a contract, available on material breach of contract
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equitable remedies
available if a nonbreaching party cannot be adequately compensated by a legal remedy or to prevent unjust enrichment
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compensentory damages
include compensation for personal injury, pain and suffering, emotional distress and other injuries caused by defendants tortious conduct
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punitive damages
recoverable against a defendant for intentional or egregious conduct. awarded to punish defendant, deter, and set example
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mitigation of damages
nonbreaching party to mitigate (avoid and reduce) the resulting damages
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