Management and Organizational Studies 2275A/B Lecture Notes - Lecture 5: Liquidated Damages, Judgment Debtor, Garnishment

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Lucien Lamoureux

Document Summary

Contracts lll lecture five: nature and extent of performance, discharge by means other than performance, nature of breach of contract, remedies, enforcement. Tender: the act of performing a contract or the offer of payment of money due under a contract. To be discharged f(cid:396)o(cid:373) a (cid:271)(cid:455) pe(cid:396)fo(cid:396)(cid:373)a(cid:374)(cid:272)e, a pa(cid:396)t(cid:455)"s te(cid:374)de(cid:396) (cid:373)ust (cid:272)o(cid:373)pl(cid:455) exactly with the promise that the party made: the agreement terminates when all parties are discharged. Imperfect tender is a breach of contract: absence of negligence is irrelevant. E. g. , a ag(cid:396)ees to (cid:862)(cid:449)i(cid:374)te(cid:396)ize(cid:863) b"s (cid:271)oat e(cid:374)gi(cid:374)e. be(cid:272)ause (cid:449)ate(cid:396) (cid:396)e(cid:373)ai(cid:374)ed, e(cid:374)gi(cid:374)e cracked in absence of evidence of undetectable defect breach of contract. Breach of contract: creates new rights for the injured party: entitles the party to bring an action for performance or damages that result, may discharge the injured party from further performance her promise. Court judgement effectively discharges the agreement by replacing it.