Textbook Notes (368,098)
Canada (161,641)
MGSC30H3 (57)
H Laurence (33)
Chapter 14

Chapter 14 Notes

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Department
Management (MGS)
Course
MGSC30H3
Professor
H Laurence
Semester
Fall

Description
Chapter 14 Breach of Contract and Remedies NotesThe Nature of Breach of Contract y the express or implied refusal to carry out a promise made under a contract is a form of discharge y when refusal occurs it creates new rights for injured party that entitle party to bring action for damages suffered as result of breach y under certain circumstances a breach of contract may also permit the injured party to treat the agreement as being at an end and to be free from any further duties under it y the courts may either grant compensation for the injury suffered as a result of the nonperformance or in some cases issue an order requiring performance according to the terms of the contract by the party who committed the breach Express Repudiation y when a party to a contract expressly repudiates a promise to perform either by conduct or by a form of communication the repudiation is said to be an express breach y repudiation of a promise before the time fixed for performance is known as anticipatory breach y if the repudiated promise represents an important condition in the agreement then the repudiation of the promise would entitle the other party to treat the agreement as at an end y the injured party has an alternate remedy available however he or she may also treat the contract as a continuing agreement y the injured party may wait until the date fixed for performance by the other party notwithstanding the express repudiation and then bring an action for nonperformance at that time y if injured party should elect to follow latter course presumably with hope that the party who repudiated agreement might experience a change of mind the injured party must assume the risk that the agreement may be discharged by other means in the interval y generally a breach of contract that takes the form of express repudiation would entitle the injured party to a release from his or her promise of performance under the contract y but if promises are such that each party must perform independently injured party may not be entitled to treat contract as at an end y similarly if the repudiated promise has been partly fulfilled the party injured by the repudiation may not be entitled to avoid the contract unless the repudiation goes to the very root of the agreement y if repudiated promise is one that has been substantially performed before repudiation injured party is usually bound to perform the agreement in accordance with its terms subject only to a deduction for damages suffered as a result of the breach by the other party y the particular rule of law that may be applied in cases where a contract has been substantially performed before the breach occurs is known as the doctrine of substantial performance y it is frequently employed by the courts to prevent the injured party from taking unfair advantage of the party who commits a breach after his promise has been largely fulf
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