MCS 3040 Chapter Notes - Chapter 9: Novation, Force Majeure, Fundamental Breach

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

Document Summary

Chapter 9 terminaion and enforcement of contracts. Less signiicant breaches generally enitle such a party to damages only. Performance is complete when all express and implied promises have been fulilled. Doesn"t necessarily mean the relaionship has come to an end: paries can coninue doing business together by means of new, coninuing, or overlapping contracts. The law disinguishes between those who have the contractual obligaion and those who may actually do the necessary work. Vicarious performance performance of contractual obligaions through others. Paries may agree to either: enter into a whole new contract known as: Assignment the transfer of a right by an assignor to the assignee. A creditor (the assignor) may assign the right to collect to another person (the assignee) without the agreement of the debtor. To be efecive, the debtor must have noice of the assignment so that they know to pay the assignee rather than the creditor.