LAWS3025 Final: Advanced Contracts Notes
Document Summary
If b had to perform first then examine (iii) (3) can party b terminate for a"s breach? (i) classification of terms (ii) examine each category. Contingent or promissory: the test is whether the language expresses a contingency (mctier). Precedent to formation or performance: generally, a contingent condition precedent to performance is presumed (perri). This general presumption is not displaced or displaced . Gcl. 2: this sale is subject to the property being delivered to the purchaser on the settlement date in their present state of repair". Subject to" indicates contingent condition, words were not promissory i. e. shall", will" or must". Perri look to see if contract exists contract already formed and signed which stipulated the condition so had to be precedent to performance. Precedent to formation giveaway subject to formal contract ". Express: the time for fulfilment is this time stipulation is essential (suttor) No time stipulated: no time is stipulated for fulfilment. This time stipulation, although implicit, is essential (suttor)
