Your SlideShare is downloading. ×
Contracts performance
Upcoming SlideShare
Loading in...5

Thanks for flagging this SlideShare!

Oops! An error has occurred.

Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Contracts performance


Published on

Contracts performance

Contracts performance

Published in: Business, Technology

  • Be the first to comment

No Downloads
Total Views
On Slideshare
From Embeds
Number of Embeds
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

No notes for slide


  • 1. Contracts Performance and Discharge
  • 2. Introduction
    • How does a party know when his or her obligations under the contract are at an end?
    • A party may be discharged from a valid contract by:
      • A condition occurring or not occurring.
      • Full performance or material breach by the other party.
      • Agreement of the parties.
      • Operation of law.
  • 3. §1: Conditions
    • Possible future event, the occurrence or nonoccurrence of which will trigger the performance of a legal obligation or terminate an existing obligation under a contract.
  • 4. Conditions
    • Types of Conditions:
      • Conditions Precedent.
      • Conditions Subsequent.
      • Conditions Concurrent.
        • Express.
        • Implied in Fact.
        • Implied in Law.
  • 5. §2: Discharge by Performance
    • The contract comes to an end when both parties fulfill their respective duties by performing the acts they have promised.
    • Types of Performance:
      • Complete Performance.
      • Substantial Performance (minor breach).
      • Performance to the Satisfaction of One of the Parties or a Third Party.
    • Case 16.1: Jacobs & Young v. Kent (1921).
  • 6. Material Breach of Contract
    • Breach of Contract - the nonperformance of a contractual duty.
    • Material breach occurs when there has been a failure of consideration. Discharges the nonbreaching party from the contract.
  • 7.
    • In a non-material breach, the duty to perform is not excused and the non-breaching party must resume performance of the contractual obligations undertaken.
    • Case 17.2: Van Steenhouse v. Jacor Broadcasting of Colorado, Inc. (1998).
    Material Breach of Contract
  • 8. Anticipatory Repudiation
    • If before performance is due, one party refuses to perform his or her contractual obligation.
    • Results in material breach.
  • 9. Anticipatory Repudiation
    • The nonbreaching party should not be required to remain ready and willing to perform when the other party has repudiated the contract.
    • The nonbreaching party should have the opportunity to seek a similar contract elsewhere.
    • Time For Performance.
      • Case 16.3: Manganaro Corp v. Hitt Contracting Inc. (2002).
  • 10. §3: Discharge by Agreement
    • Discharge by Rescission.
    • Discharge by Novation.
      • Previous Obligation.
      • All parties agree to new contract.
      • Extinguishment of old obligations.
      • New Contract Formed.
    • Discharge by Substituted Agreement.
    • Accord and Satisfaction.
  • 11. §4: Discharge by Operation of Law
    • Alteration of The Contract.
    • Statutes of Limitations.
    • Bankruptcy.
    • Impossibility or Impracticability. 
  • 12. Impossibility or Impracticability of Performance
    • Objective Impossibility of Performance.
      • Death or incapacitation prior to performance;
      • Destruction of the Subject Matter; or
      • Illegality in performance.
    • Commercial Impracticability.
      • Key: Circumstances not foreseeable.
      • Case 16.4: Cape-France v. Estate of Peed (2001).
    • Frustration of Purpose.
    • Temporary Impossibility.