MCS 3040 Lecture Notes - Lecture 6: Novation, Breach (Security Exploit), Natural Disaster

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 3040
• Professor: Joseph Radocchia

Document Summary

Chapter 9 terminaion and enforcement of contracts. Several ways in which a contract can be brought to an end. Through performance both paries complete their contractual obligaions. Through agreement the paries are always free to voluntarily bring the contract to an end. A contract ordinarily comes to an end not due to breach, frustraion or agreement, but because the contract has been fulilled by both sides. Given that the norm in the area of terminaion of contracts is performance, it coincides with the risk management theme of the textbook a mater discussed in more detail below. Through breach a serious breach can release the innocent party from coninuing with the contract. Performance is complete when all implied and express promises have been fulilled. Does not necessarily mean the relaionship ends. Paries may coninue to do business by means of new, coninuing, and overlapping contracts.