BU231 Lecture Notes - Lecture 6: Surface Mining, Specific Performance, Opportunity Cost
Document Summary
Breach of contract: one party in the contract does not fulfill the promise that they made. May discharge (kill) the contract, but not always: minor breach: A breach of a non-essential term of the k or of an essential term in a minor respect. You deliver 98 robots instead of 100: major breach: A breach of the whole k or of an essential term, so that the purpose of the k is defeated. The essential term of the contract is always the money to be paid, the due date, etc. This is dependent on the contract: condition an essential term of the k, warranty a non-essential term of the k. The non breaching party gets to sue for damages no matter what. Sometimes you cannot discharge the contract as you have already performed, therefore you just sue for breach of contract in a major way.
