Final Law Chapter Flashcards
1
Q
Conditions Precedent
A
A condition that must be fulfilled before a parties performance can be required
2
Q
Discharge
A
Termination of a contract
3
Q
What are 2 types of impossibility?
A
Objective
Subjective
4
Q
Conditions concurrent
A
When each parties performance is conditioned on the other parties performance
5
Q
Novation
A
The substitution of a third party for one of the original parties
6
Q
Subjective Impossibility
A
Someone not wanting to do it
7
Q
Conditions Subsequent
A
A condition operates to end a parties absolute promise to perform
8
Q
Objective Impossibility
A
When something cannot be done
9
Q
What are the 2 types of performance?
A
Complete
Substantial
10
Q
Material Breach
A
Performance is not substantially performed or performed at all
