Remedies - Termination of contract for breach Flashcards
1
Q
When does breach of contract occur? 3
A
Party does not perform their obligation
Party fails to reach standards set or expected in contract
Party unlawfully repudiates the contract
2
Q
Consequence of a breach of condition?
A
Injured party can sue for damages and/or repudiate contract
3
Q
Consequence of breach of warranty?
A
Sue for damages only
4
Q
Consequence of a breach of an innominate term?
A
Injured party can sue immediately.