LAW 122 Lecture Notes - Lecture 11: Objective Test, Force Majeure, Natural Disaster
1 Dec 2017
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Document Summary
Most lawsuits not about formation but about performance. One part is arguing that the other party did not fulfill obligations. When a contract has been discharged it means that it has been performed and is no a longer a pending legal obligation. A contract can be discharged through the performance of its terms. Generally, the parties must perform exactly as contract requires. Time is not of the essence - delayed, lae performance is still performance. E. g. appliance scheduled for delivery by noon, arrives at 6pm. Time is not important enough- still bound by contract obligations. Not possible to cancel contract- but remedy damages possible. If you didn"t do exactly what contract stated, but u did a substantial part of it, it is still performance. Builder and missing doorknob, still have to pay bc contract exists. Objective test- what would a reasonable party conclude. Cannot cancel the contract but remedy of damages. An agreement to end an existing contract (the contract)
