COMM 393 Chapter Notes -Consequential Damages, Condition Subsequent, Liquidated Damages
Document Summary
Discharge a contract- cancel or end the obligations of a contract; make an agreement or contract inoperative. 4 ways: by performance, by agreement, by frustration, by operation of law. The nature of discharge by performance parties who enter into a contract expect it to be ended by performance contract ends when both parties performed all respective obligations satisfactorily performance can take several forms, depending on contract. Substantial performance performance that does not comply in some minor requirement of the contract cannot seize upon a trivial failure of performance to avoid own obligations ex. 2/1000 items not in perfect condition for resale. Frustrated contracts act rsbc 1979: allows the court to apportion the loss equitably. Done by providing for the recovery of deposits/ advances & retention of part of the funds to cover expenses, where a party has partly performed the contract at the time of the frustrating event.
