Class Notes (836,153)
Canada (509,662)
York University (35,302)
ADMS 2610 (430)
Rudi Lof (43)
Lecture 6

ADMS 2610 Lecture 6: B.Law10th ppt notes Ch13
Premium

4 Pages
69 Views
Unlock Document

Department
Administrative Studies
Course
ADMS 2610
Professor
Rudi Lof
Semester
Winter

Description
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
More Less

Related notes for ADMS 2610

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit