Breach of Contracts

a contracting party's failure to perform and absolute duty owed under a contract

a situation in which a perty to a contract renders performance exactly as required by the contract. Complete performance discharges that party's obligations under the contract.

an unconditional and ablosulte offer by a contracting party to perform his or her obligations under a contract, also known as tender.

performance by a contracting party that deviates only slightly from complete performance.

a breach that occurs when a party renders substantial performance of his or her contractual duties.

a situation in which a party fails to perform express or implies contractual obligations and impairs or destroys the essence of a contract.

a breach that occurs when one contracting party informs the other that he or she will not perform his or her contractual duties when due.

an award of money. Monetary damages are available whether the breach was minor or material.

an award of money intended to compensate a nonbreaching party for the loss of the bargain. Compensatory damages place the nonbreaching party in the same position as if the contract had been fully performed by restoring the "benefit of the bargain"

a nonbreaching party's legal duty to avoid or reduce damages caused by a breach of contract

foreseeale damages that arise from circumstances outside a contract. To be liable for these damages, the breaching party mush know or have reason to know that the breach will cause special damages to the other party.

damages that parties to a contract agree in advance should be paid if the contract is breached.

damages awarded when the nonbreaching party sues the breaching party even though no financial loss has resulted form the breach. Nominal damages are usually $1 or some other small amount.

an order of the court that enables a government officer to seize property of the breaching party and sell it at auction to satisfy a judgment.

an order of the court that orders that wages, bank accounts, or other property of the breaching party held by thrid persons to be paid to the nonbreachhing party to satisfy a judgment.

an action to rescind a contact, Rescission is available if there has been a material breach of contract, fraud, duress, undue influence, or mistake

the return of goods or property received from the other party to rescind a contract. If the actual goods or property are not available, a cash equivalent must be made.

are available if there has been a breach of contract that cannot be adequately compensated through a legal remedy. They are also available to prevent unjust enrichment.

a remedy that orders the breaching party to perform the actus promised in the contract. Specific performance is usually awarded in cases in which the subject matter is unique, such as in contracts involving land, heirlooms, and paintings.

an equitable doctrine that permits the court to rewrite a contract to express the parties' true intentions

a court order that prohibits a person from doing a certain act.

a tort that arises when a thrid party induces a contracting party to breach a contract with another party

an implied covenant under which the parties to a contractnot only are held to the express terms of the contract but are also required to act in "good faith" and deal fairly in all respects in obtaining the objective of the contract.