LAW 122 Lecture Notes - Lecture 10: Specific Performance, Expectation Damages
Document Summary
In some situations time is essence, in which case late performance can be refused. If payment method is not stated in the contract, you must pay in cash: legal tender is exact cash (not over or under) Occurs when a party fails to properly perform an obligation due under a. Occurs when a ship, train, or truck departs from the route agreed upon. Occurs when a party indicates in advance, by words conduct, that it does not intend to fulfill an obligation when it falls due under a contract: self-induced impossibility. Intended to punish the defendant & discourage other people from behaving badly. Liquidated damages result of a breach: penalty. Equitable relief: specific performance, occurs when the court orders the defendant to fulfill a contractual obligation to do something. Injunction: occurs when the court orders the defendant to not do something that is prohibited by the contract.