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| contracts containing conditions affecting the performance obligations of the parties |
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| particular event that must occur in order for a party's duty to arise |
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| future event that terminates the obligations of the parties when it occurs |
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| occur when each party's performance is conditioned on the performance of the other |
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| explicitly stated in the contract and are usually preceded by words such as conditioned on, provided that, or when |
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| those that are not explicitly stated but are inferred from the nature and language of the contract |
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| parties discharge their obligations by doing what they respectively agreed to do under the terms of the contract |
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| offer to perform and being ready, willing, and able to perform |
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| occurs when all aspects of the parties duties under the contract are carried out perfectly |
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occurs when:
1. completion of nearly all the terms of the agreement
2. an honest effort to complete all the terms
3. no willful departure from the terms of the agreement |
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| occurs whenever a party fails to perform her obligations under the contract |
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| discharges the nonbreaching party from his obligations under the contract; occurs when a party unjustifiably fails to substantially perform his obligations under the contract |
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| the parties to the agreement wish to replace one of the parties with a third party |
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| it is in fact not possible to lawfully carry out ones contractual obligations |
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| very difficult to carry out the contract |
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| commercial impracticability |
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Definition
| used when performance is still objectively possible but would be extraordinarly injurious or expensive to one party |
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Definition
| monetary damages including compensatory, punitive, nominal, liquidated damages |
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| damages designed to put the plaintiff in the position he would have been in had the contract been fully performed |
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| consequential or special damages |
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| forseeable damages that result from special facts and circumstances arising outside the contract itself; must be within the contemplation of the parties at the time the breach occurs |
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| designed to punish the defendant and deter him and others from engaging in similar behavior in the future |
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| no actual damages resulted from the breach of contract; serves to signify that the plaintiff has been wronged by the defendant |
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| duty to mitigate one's damages |
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| plaintiff must demonstrate that he used reasonable efforts to minimize the damage resulting from the breach |
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| termination of the contract |
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| the return of any property given up under the contract |
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| specific performance aka specific enforcement |
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| order requiring that the breaching party fulfill the terms of the agreement |
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Term
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| order either forcing a person to do something or prohibiting a person from doing something |
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