Buzzwords Flashcards
1
Q
Effect of Material breach
A
Excuses the non-breaching party’s counter performance, opens up damages for non-breaching party.
2
Q
What is the definition of BREACH
A
An unjustified failure to perform an absolute duty.
3
Q
Laches Definition
A
When a party delays in bringing an equitable action which prejudices the other party.
4
Q
What must be established to successfully get monetary damages for contractual breach
A
Party seeking damages must establish that the losses were:
- Foreseeable
- Unavoidable
- Certain
- Causal
5
Q
Expectation Damages are
A
Damages required for the non-breaching party to purchase substitute performance.
