Term
|
Definition
|
|
Term
|
Definition
The parties fulfill the terms of the contract by doing what they had earlier promised |
|
|
Term
|
Definition
| When all the terms of a contract have been carried out properly and completely |
|
|
Term
|
Definition
The time that suitable, fair, and proper to the objective in view |
|
|
Term
|
Definition
| Offer to do what you have agreed to do under the terms of a contract |
|
|
Term
|
Definition
|
|
Term
|
Definition
An agreement between two parties to end an agreement |
|
|
Term
|
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 |
|
|
Term
| Impossibility of performance |
|
Definition
The situation in which it is legally impossible to fulfill the obligations of the agreement |
|
|
Term
|
Definition
A contract is discharged by a count because it is in the best interest of society |
|
|
Term
|
Definition
| The law that specifies the time within which a contract may be legally enforced |
|
|
Term
|
Definition
A set procedure for discharging a debtor’s obligations. The obligations still exist, but the debtor can no longer be imprisoned for failure to pay |
|
|
Term
|
Definition
A slightly less than full performance. Someone has fulfilled the major requirements of a contract in good faith, leaving only minor details incomplete |
|
|
