BU231 Study Guide - Final Guide: Quasi-Contract, Inequality Of Bargaining Power, Standard Form Contract
Document Summary
By acting in a way which makes it impossible to perform its promises. By either failing to perform at all or tendering an actual performance that falls short of its promise. Express repudiation: is when one of the contracting parties advises the other that it does not intend to perform as promised. Anticipatory breach: is an express repudiation that occurs before the time agreed for performance. The non-breaching party has a choice to accept it and bail on the contract, or insist on performance. If the promisee insists on performance after the anticipatory breach, and still does not receive the performance by the time stated in the contract, then they are still entitled to damages for breach of contract. However they take a chance that the intervening events may provide the promisor with an excuse for not performing. A contract exists and has legal effect from the time of its formation, not just from the time of it"s performance.
