Management and Organizational Studies 2275A/B Chapter Notes - Chapter 9: Novation, Equitable Remedy, Interlocutory Injunction

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

Document Summary

An overview: how can contracts be terminated, through performance, when both parties fulfill their obligations, they have performed the contract. Ideal way of concluding a contract: through agreement, parties are free to voluntarily bring their contract to an end, through frustration, applies when, after the destruction of a contract, an important, unforeseen event occurs. I. e. the destruction of the subject matter of the contract or death: through breach, can release the innocent party from having to continue with the contract if that is his wish. Termination through performance: what amounts to termination by performance depends on the nature of the contract. I. e. if it is made clear that only a particular accountant is to do the work, vicarious performance through other accountants is not permitted: vicarious performance= performance of contractual obligations through others. In such circumstances, both parties are excused from the contract and it comes to an end.