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BU231 (319)
Valerie Irie (103)
Lecture

Breach of K.docx

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Department
Business
Course
BU231
Professor
Valerie Irie
Semester
Fall

Description
Breach of Contract: -breach must be of entire contract -not delivering the correct amount of items -major breach defeats entire purpose of contract -effectively discharged in breach situation -frees themselves, allows to go enter contract with someone else -minor breach does not allow for discharge -breach of contract has now occurred -most people sue immediately -problem with second position run a risk, especially if there is a time frame -frustrating event discharges both parties -breached in advance of date of performance -tort law, obligation to reduce damages where possible -follows into contract law, has obligation to act reasonably -anticipatory breach, make damages less -important because of contract formation -a contract, need to know when acceptance occurs -when contract is formed -date fstm which contract is binding -Oct. 1 can enter into other contracts -contract liabilities
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