Outline to Buis 301 Test 2

In: Business and Management

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Chapter 7 CONTRACTS PERFORMANCES: CONDITIONS, BREACH, AND REMIDIES
PG 160 NATURE AND EFFECTS OF CONDITION
-What is condition
CATEGORIES OF CONDITIONS
-condition precedent or condition subsequent
-concurrent conditions
PG 161 GOOD FAITH PERFORMANCES AND DISCHARGE
- Good faith
- Discharge
- Tendering goods
- Perfect performance
PG 162 SUBSTANTIAL PERFORMANCES
-substantial performance
PG 164 OTHER EVENTS OF DISCHARGE
-mutual consent
-Operation of law
MUTUAL CONSENT
-Recission
-accord and satisfaction
-substitute agreement also known as modification
-novation
PG 165 OPERATION OF LAW
-impossibility, impracticability, and frustration of purpose pg 165
PG 166 IMPOSSIBILITY
-4 intervening events: destruction of matter
-death or incapacitation
-means of performance
PG 167 IMPRACTICABILITY
-inforeseesable and extreme
FUSTRASTION OF PURPOSE
-principle purpose
-nonoccurrence
DISCHARGED THROUGH OPERATION OF LAW WHEN CONTRACT IS:
-unilaterally altered
-bankruptcy code
-statute of limitations
PG 168 BREACH OF CONTRACT AND ANTICIPATORY REPUDIATION
-remedies
-partial breach

PG 169 ANTICIPATORY REPUDIATION
-anticipatory repudiation

CONTINUED PG 170
-held repudiation one of three ways-

- A statement , action , knowledge maybe unable to perform
PG 171 REMEDIES
- Money damages
- Compensation (direct damages) consequential damages, restitution, liquidated damages

RESTITUTION
-unjust enrichment

EQUIPABLE REMEDIES
-equitable relief – primarily in the form of specific performance, injunctive relief, reformation

PG 173 AVOIDANCE AND MITIGATION OF DAMAGES

PG 174 CONTRACTS INVOLVING RIGHT OF THE THIRD PARTY
-assignment, delegation, third party beneficiary
CHAPTER 9 TORTS AND PRODUCTS LIABILITY

PG 208 OVERVIEW OF TORT LAW
-tort
-tortfeasor
-Tortious conduct

SOURCE OF LAW
-restatement of torts…...

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