First Principles of Business Law

Performance and breach of contract

1. 1.1. Obligations and performance

1.1. The importance of performance

 

 

 

When a contract is made, the parties are bound by law to give, or do, or make good on whatever it is they promised. Carrying out the promises made, or 'doing what was promised', is what we mean by 'performance' of a contract. In most cases, the parties carry out their contractual obligations properly and the contract is discharged by performance. But sometimes disputes arise over whether or not the contract has been performed, either at all or adequately.

You might think that it would be a simple matter to decide whether or not the parties have performed their obligations. But in some cases this can be a difficult question, in which the details and circumstances are important.

This module deals with the legal concepts that help to identify and decide questions relating to performance.  You will learn what rules apply to decide when performance is sufficient to discharge contractual obligations.  

 

 

 

 

 

 

 

 

 

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