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Contract Performance - Coggle Diagram
Contract Performance
Excuse of Condition
Anticipatory Repudiation
Voluntary Disablement
Substantial Performance
Wrongful Prevention
Impossibility
Waiver & Estoppel
Actual Material Breach
Discharge of Duty
Novation or Substitution
Accord & Satisfaction
Natural Rescission
Lapse
Modification
Statute of Limitations
by Performance impossibility
Third Parties
Assignment
Delegation
Novation
Third Party Beneficiaries
Incidental or Intended
Donee or Creditor
Breach
Breach = Failure to Discharge an Absolute Duty
Material v. Substantial Performance
Factors
Adequacy of Damages
Extent of Partial Performance
Benefit Received
Hardship to Breaching Party
Performance
Negligence or Willfulness
Remedies
Damages for Breach
Defendant's Duty to Mitigate
Applies to all contracts
Consequential Damages
Must be reasonably foreseeable at time of K
Compensatory Damages
Benefit of Bargain
Must be certain expect. measure
Reliance if uncertain
Liquidated, Incidental & Nominal
But no Punitive unless non-economic
Restitution
Unjust Enrichment of Defendant
Quasi-Contract = No Real Contract
May go to Party in Breach
Rescission
Equitable Remedy
K
Canceled
grounds
Misrepresentation
Mistake
Equitable Defenses apply
Corut orders
Reformation
Equitable Remedy
Court orders
K
Modified
grounds
Mistake
Misprepresentation
Equitable Defenses apply
Specific Performance
Remedy at Law
Equitable Remedy
Inadequate
Real Property is Unique
Interpretation & Construction
Course of Dealing
Custom & Usage
Modification
Common Law
Consideration required
UCC
Good Faith OK May need to satisfy Statute of Frauds
Parol Evidence Rule
If K clear & unambiguous
No evidence of prior or contemporaneous agreements