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Lecture 6

ADMS 2610 Lecture 6: B.Law10th ppt notes Ch13

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Administrative Studies
ADMS 2610
Rudi Lof

Performance of Contractual Obligation  Nature and Extent of Performance ➢ Tender of payment ➢ Tender of performance  Discharge ➢ Termination ➢ External events ▪ Express terms ▪ Implied terms  Overview ➢ Frustration ➢ Condition precedent ➢ Operation of law ➢ Agreement ▪ Waiver ▪ Novation ▪ Material alteration ▪ Substitution ➢ Breach of Contract  Nature and Extent of Performance  Performance ➢ Must be done according to terms of contract ➢ Must be exact and precise in order to constitute discharge ➢ Anything less is a breach  Tender ➢ The act of performing a contract or the offer of payment of money due under a contract ➢ Tender of Payment ▪ Performance is made when money paid at time and place required under the contract ➢ Legal tender ▪ Cannot be refused if tendered by buyer ▪ Seller can refuse credit card, check, bill of exchange unless specified as form of payment  Tender  Debt ➢ If proper tender of payment is made and refused by creditor, interest stops running ➢ Debtor need not attempt to pay again  Tender of Performance of an Act ➢ Must deliver goods to proper place at proper time ➢ If refusal by buyer seller need not tender again  Breach of Contract  The failure to perform a contract in accordance with its terms  Gives rise to right of action by party affected by the breach  Discharge by Other Means  Discharge ➢ Contracts can be discharged in a number of ways  Termination as a Right ➢ Option to terminate by one party giving notice to the other ➢ Contract provides for a termination right ➢ If done improperly may be liable for damages for improper termination  External Events  Express Terms ➢ Discharge by the occurrence of an event specified in the contract ➢ Condition Subsequent ▪ A condition that alters the rights or duties of the parties to a contract, or that may have the effect of terminating the contract if it should occur ➢ Force Majeure ▪ A major, unforeseen event that occurs that prevents the performance of a contract or causes damage to property  External Events  Implied Terms ➢ Discharge by the occurrence of an event that by custom of the trade would normally result in exemption from liability ▪ Conditions subsequent may be implied by the courts ▪ Example: common carriers ordinarily responsible for ordinary losses or damage are exempt from Acts of God  External Events  Frustration  A contract under which performance by a party is rendered impossible due to an unforeseen or unexpected change in circumstances affecting the agreement ○ Frustration results in the contract being discharged ○ Force Majeure Clause should be inserted into the agreement  Sale of Goods Act ○ Provides for frustration in certain circumstanc
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