BU231 Chapter Notes - Chapter 13: Opportunity Cost, Bona Fide Purchaser, Judgment Debtor

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26 Jan 2013
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By acting in a way that makes it impossible to perform its promises, or. By either failing to perform at all or tendering an actual performance that falls short of its promise. Any breach of a term in a contract entitles the non-breaching party to claim damages. To discharge a contract, the breach must undermine the whole contract or a fundamental term of the contract; only then is the option to discharge the contract available. Even when a breach is sufficient to discharge the contract, the non-breaching party must choose to treat the contract as discharged and communicate its choice to the breaching party. Minor breach a breach of a non-essential term of a contract or of an essential term in a minor respect. Major breach a breach of the whole contract or of an essential term so that the purpose of the contract is defeated. A minor term may be breached in a major way.

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