Management and Organizational Studies 2275A/B Chapter Notes - Chapter 9: Syllogism, Equitable Remedy, Expectation Damages

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Cristin Keller

Document Summary

Given that the norm in the area of termination of contracts is performance, it coincides with the risk management theme of the textbook a matter discussed in more detail below. Termination by agreements: parties may enter into an agreement that becomes unfavorable for one or both of them. The assignee"s right to payment is no greater than the right possessed by the assignor. If the assignor is in breach of contract and therefore entitled to less than the full contract price, the assignee is likewise entitled to less. Similarly, what is the problem with drafting a very specific clause that lists the events that allow a party to terminate the contract: overly broad force majeure clauses run the risk of failing for uncertainty. Overly specific clauses run the risk of failing to contemplate or cover events that do in fact occur.