HRT 240 Lecture Notes - Lecture 4: Specific Performance, Parol Evidence Rule, Damages
10 Nov 2016
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Document Summary
Absolute 100 meaning they must be performed or the promising party will breach of contract. Acceptance 86 an expression of agreement by the offeree to the terms of the offer. Agreement not to compete 117 provision barring the seller from competing in the same geographical area for a specified period of time. Antirust laws 87 laws that restrict limitations on competition- price fixing. Attrition clause 124 contract provision that obligates the organization to compensate the hotel if fewer than the contractual number of rooms are rented by conventioneers. Breach of contract 83 failure to perform the terms of a contract constitutes a breach of contract, which in turn results liability. Capacity to contract 84 the ability both to understand the terms of the contract and to appreciate that failure to perform its terms can lead to legal liability, including a lawsuit.
