how contracts come to an end chapter 6. ending a contract the law tells us when a contract can end...
TRANSCRIPT
![Page 1: How Contracts Come to an End Chapter 6. Ending a Contract The law tells us when a contract can end so that people will know when their rights and duties](https://reader035.vdocuments.site/reader035/viewer/2022070410/56649f1c5503460f94c31d7d/html5/thumbnails/1.jpg)
How Contracts Come to an End
Chapter 6
![Page 2: How Contracts Come to an End Chapter 6. Ending a Contract The law tells us when a contract can end so that people will know when their rights and duties](https://reader035.vdocuments.site/reader035/viewer/2022070410/56649f1c5503460f94c31d7d/html5/thumbnails/2.jpg)
Ending a ContractThe law tells us when a contract can end so that people will know when their rights and duties conclude.
By performance
By agreement
![Page 3: How Contracts Come to an End Chapter 6. Ending a Contract The law tells us when a contract can end so that people will know when their rights and duties](https://reader035.vdocuments.site/reader035/viewer/2022070410/56649f1c5503460f94c31d7d/html5/thumbnails/3.jpg)
Discharge by PerformancePerformance is a series of activities that fulfills
the purpose of a contract.
Time for performance - duties under the contract must be completed in reasonable time
Satisfactory performance - completing the work in a satisfactory manner
Substantial performance - completing all duties for the contract to end.
Tender of performance - paying with money
![Page 4: How Contracts Come to an End Chapter 6. Ending a Contract The law tells us when a contract can end so that people will know when their rights and duties](https://reader035.vdocuments.site/reader035/viewer/2022070410/56649f1c5503460f94c31d7d/html5/thumbnails/4.jpg)
Discharge by Agreement
End a contract by mutual agreement.
Possible substitution for another contract?
![Page 5: How Contracts Come to an End Chapter 6. Ending a Contract The law tells us when a contract can end so that people will know when their rights and duties](https://reader035.vdocuments.site/reader035/viewer/2022070410/56649f1c5503460f94c31d7d/html5/thumbnails/5.jpg)
Involuntary dischargeSometimes contracts are discharged despite what the parties intend to do
By impossibility of performance
By operation of law
![Page 6: How Contracts Come to an End Chapter 6. Ending a Contract The law tells us when a contract can end so that people will know when their rights and duties](https://reader035.vdocuments.site/reader035/viewer/2022070410/56649f1c5503460f94c31d7d/html5/thumbnails/6.jpg)
Discharge of Impossibility
Death or illness in a personal service contract
Destruction of the exact subject matter
Situations of the contract become illegal
![Page 7: How Contracts Come to an End Chapter 6. Ending a Contract The law tells us when a contract can end so that people will know when their rights and duties](https://reader035.vdocuments.site/reader035/viewer/2022070410/56649f1c5503460f94c31d7d/html5/thumbnails/7.jpg)
Breach of ContractA person fails to perform the duties spelled out by a contract.
The effects of this depends on the case.
![Page 8: How Contracts Come to an End Chapter 6. Ending a Contract The law tells us when a contract can end so that people will know when their rights and duties](https://reader035.vdocuments.site/reader035/viewer/2022070410/56649f1c5503460f94c31d7d/html5/thumbnails/8.jpg)
Discharge by Operation
Wrongful alteration - changing of the contract illegally
Statute of limitations - establishing a time limit
Bankruptcy
![Page 9: How Contracts Come to an End Chapter 6. Ending a Contract The law tells us when a contract can end so that people will know when their rights and duties](https://reader035.vdocuments.site/reader035/viewer/2022070410/56649f1c5503460f94c31d7d/html5/thumbnails/9.jpg)
FRAUDTo win a lawsuit based on fraud:
There must be a false representation of fact (a lie).
The person who lied must know it was a lie.
The lie must be made with the intent that it be relied on.
The innocent party must reasonably reply on the lie.
The innocent party must experience a loss.
![Page 10: How Contracts Come to an End Chapter 6. Ending a Contract The law tells us when a contract can end so that people will know when their rights and duties](https://reader035.vdocuments.site/reader035/viewer/2022070410/56649f1c5503460f94c31d7d/html5/thumbnails/10.jpg)
DuressAct of destroying someone's free will by force, threat of force, or bodily harm.
Physical - actual physical force is used to cause someone to enter a contract.
Economic - threatening a persons income or business that makes a person enter a contact without real consent.
![Page 11: How Contracts Come to an End Chapter 6. Ending a Contract The law tells us when a contract can end so that people will know when their rights and duties](https://reader035.vdocuments.site/reader035/viewer/2022070410/56649f1c5503460f94c31d7d/html5/thumbnails/11.jpg)
Undue influence Making inappropriate use of a persons power to create an agreement that is very favorable to the person with all the power.
The existence of a caregiver-type relationship
The use of excessive pressure by the caregiver
A resulting contract that heavily favors the caregiver
![Page 12: How Contracts Come to an End Chapter 6. Ending a Contract The law tells us when a contract can end so that people will know when their rights and duties](https://reader035.vdocuments.site/reader035/viewer/2022070410/56649f1c5503460f94c31d7d/html5/thumbnails/12.jpg)
Remedy and Damages
What can you do if you think someone has not fulfilled a contract you had agreed to?
You may accept the breach
You may sue for money damages
You may take the court for an equitable remedy $$$