BUS 393 Chapter Notes - Chapter 9: Fundamental Breach, Force Majeure, Condition Subsequent

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Chapter 9 the end of the contractual relationship: contracts may be discharged through performance, breach, agreement, or frustration. Performance (warranties: contracts usually have major terms (conditions) and minor terms. Tender: when warranty breached, contract still considered performed and other party is obligated to perform, subject to claim for compensation for breach of warranty. Breach: breach failure to properly perform contractual obligations by 1) improper/incomplete performance and 2) refusal to perform. If non-breaching party has received significant benefit, loses right to discharge contract and must perform her obligations. Exemption clauses: exemption clause attempt by party to significantly limit/eliminate its liability, terms cannot be unilaterally imposed, must be brought to attention at time. If there is ambiguity, narrow/restrictive meaning used contract is made. Fundamental breach may be permitted by exemption clause, but only if absolutely clear both parties understood its coverage => not likely (construction approach)

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