Term
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Definition
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Term
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Definition
| The parties fulfill the terms of the contract by doing what they had earlier promised. |
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Term
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Definition
| When all the terms of a contract have been carried out properly and completely. |
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Term
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Definition
| The time that is suitable, fair, and proper to the objective in view. |
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Term
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Definition
| Slightly less than full performance. |
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Term
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Definition
| An offer to do what you have agreed to do under the terms of a contract. |
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Term
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Definition
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Term
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Definition
| An agreement between two parties to end an agreement. |
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Term
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Definition
| Contract is discharged when one party to an agreement agrees to accept performance from the other party that is different from what was agreed upon in the original contract. |
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Term
| Impossibility of Performance |
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Definition
| Situation in which it is legally impossible to fulfill the obligations of the agreement. |
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Term
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Definition
| A contract is discharged by a court because it is in the best interest of society |
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Term
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Definition
| The law that specifies the time within which a contract may be legally enforced. |
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Term
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Definition
| Set procedures for discharging a debtor's obligation |
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