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 DISCHARGE AND


REMEDIES
Chapter Outcomes:
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?  DISCHARGE AND
REMEDIES

Chapter Outcomes (continued):

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14--1
14

Discharge by Performance
Time for Performance
Satisfaction of Performance
Complete and Substantial
Performance
Contractual Conditions
Tender of Performance
14--1
14
A Question of Ethics

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14--1
14
Topic Quiz
Answer the following true/false questions:

1. When the contract states the


time for performance, but
nothing indicates that time is
important, the court may allow
additional time to perform. TRUE
14--1
14
Topic Quiz
Answer the following true/false questions:
2. It is known as @ @ 
   
when both parties fully accomplish
every term, condition, and promise that
was agreed upon
FALSE

Execution of all except for minor details


needing to be worked out.
14--1
14
Topic Quiz
Answer the following true/false questions:

3. Tender of performance is
necessary to test the other
party¶s willingness and ability
to perform.
TRUE
14--2
14

Discharge by Nonperformance

 
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14--2
14
Topic Quiz
Answer the following true/false questions:
1. A contract would be
discharged by impossibility
when the subject matter of the
contract had been destroyed
without the parties¶ knowledge
before the contract was
entered into. TRUE
14--2
14
Topic Quiz
Answer the following true/false questions:

2. Most contractual obligations to


pay money come to an end by
operation of law when a party
files for bankruptcy.
TRUE
14--2
14
Topic Quiz
Answer the following true/false questions:

3. When time is of the essence,


there is a breach of contract if
performance is not completed
within the time limits agreed to
by the parties.
TRUE
14--3
14

Remedies


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Chapter 14

LawLINKS
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Chapter 14

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14--3
14
Topic Quiz
Answer the following true/false questions:

1. Incidental damages are also called


consequential damages.
FALSE

They are differential damages.


14--3
14
Topic Quiz
Answer the following true/false questions:
2. Speculative damages may be awarded
for present injuries and for others that
might reasonably be anticipated in the
future.
FALSE

They are disallowed by courts.


14--3
14
Topic Quiz
Answer the following true/false questions:

3. When a contract is breached, the


injured party has no obligation to
mitigate damages.
FALSE

The injured party must exercise


reasonable precautions.
SUMMARY
14--1
14 Most contracts are discharged by performance,
which means that the parties do what they
agreed to do.

14--2
14 Nonperformance can also discharge
contractual obligations.

14--3
14 A breach of contract relieves the injured party
from any obligation under the contract.
Chapter 14
Key Terms
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Chapter14

Investigating on the Internet


    

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