MCS 3040 Chapter 9: Chapter 9 Termination and Enforcement of Contracts

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

Document Summary

Contract is performed when all of its implied and express promises have been fulfilled. Substitution of parties in a contract or the replacement of one contract with another. Enter into a whole new contract: novation: Transfer does not terminate the contract but does have the effect of eliminating the transferor"s role in it. The transfer of a right by an assignor to an assignee. Termination of a contract by an unexpected event or change that makes performance functionally impossible or illegal. No party has discussed who would bear the risk of the music hall burning down. Court had to decide whether the contract had been frustrated or not. Music hall was essential, its destruction defeated purpose of contract. Prior to the concerts, music hall was destroyed by a fire by which no party could be faulted. Taylor sued for his expenses relating to advertising and other preparations. Obligated to demonstrate the following elements to the court"s satisfaction.