MCS 3040 Chapter Notes - Chapter 9: Novation, Breach (Security Exploit), Syllogism

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 3040
• Professor: Joe Radocchia

Document Summary

Several ways in which a contract can be brought to an end. Through performance both parties complete their contractual obligations. Through agreement the parties are always free to voluntarily bring the contract to an end. Through frustration when an important, unforeseen even occurs. Through breach a serious breach can release the innocent party from continuing with the contract. Performance is complete when all implied and express promises have been fulfilled. Does not necessarily mean the relationship ends. Parties may continue to do business by means of new, continuing, and overlapping contracts. Law distinguishes between those who have the contractual obligation and those who may actually do the necessary work. Vicarious performance performance of contractual obligations through others. Enter into a whole new contract, known as novation vary certain terms of the contract. End the contract substitute a party tra(cid:374)sferri(cid:374)g o(cid:374)e part(cid:455)"s rights a(cid:374)d obligatio(cid:374)s to so(cid:373)eo(cid:374)e else; a limited form of novation.