BU231 Lecture : Chapter 12 ReadingNotes.doc
Document Summary
Apart from breach, we examine the various ways in which a contract may be. Unilateral is discharged when promisee performs: tender of performance, one party may attempt to perform, but the other party refuses to accept the performance (for whatever reason, the attempt to perform is the tender of performance. If a seller tenders delivery of goods and buyer refuses, the seller is under no obligation to attempt delivery again, may sue for breach. If neither party has performed fully at the time the contract is called off, there is automatically consideration for the waiver. If one party has performed fully then the incomplete party requires a release under seal from the other party. A future or uncertain event that must have occurred before the promisor"s liability is established: eg. Sale of real estate conditional on getting mortgage within x" days, or contract is null and void.
