BUSI 4000 Lecture Notes - Lecture 12: Equitable Remedy, Specific Performance, Syllogism

• School: Memorial University
• Department: Business Administration
• Course: BUSI 4000
• Professor: Beth Mc Grath

Document Summary

Several ways in which a contract can be brought to an end. Through performance: both parties complete their contractual obligations. Through agreement: the parties are always free to voluntarily bring the contract to an end. Through breach: a serious breach can release the innocent party from continuing with the contract. Performance: performance is complete when all implied and express promises have been fulfilled, does not necessarily mean the relationship ends, parties may continue to do business by means of new, continuing, and overlapping contracts. Performance by others: law distinguishes between those who have the contractual obligations and those who may actually do the necessary work, vicarious performance, performance of contractual obligations through others. Assignment of a contract: the transfer of a right by an assignor to an assignee. A creditor (the assignor) may assign the right to collect to another person (the assignee) without the agreement of the debtor.