Excuse because of failure of a performance.

Question 1

what is a performance condition

Answer 1

condition is a mutually agreed upon promise modifier - it does not create a new obligation but merely limits obligations created by other language in the K.

if not, it is a COUNTEROFFER/ conditional acceptance.

Question 2

is promise condition a promise?

Answer 2

NO – it’s merely condition

Question 3

is a covenant a promise?

Answer 3

YES.

Question 4

express condition

Answer 4

must be perfectly met if the condition is stated: 
watch for: 
if 
provided that
when, until, so long as 
subject to, on condition that

Question 5

reasonable rule exception

Answer 5

condition based on approval of one of the K-ing parties is treated as satisfied if a reasonable person would approve, unless subject is art of other matters that are inherently discretionary.

Question 6

how can you excuse express condition?

Answer 6

estoppel and waiver

Question 7

Estoppel

Answer 7

1. who is the person who benefits the condition
2. what is the statement giving up condition before event occurs

i said x but you don’t have to do it. i don’t do it. you can’t hold me to it anymore.

Question 8

Waiver

Answer 8

waiver is based on statement by person protected by the condition AFTER the event occurred and does not require a change of position.

oops. that’s ok. okay all good. WAIVED.

Question 9

Excuse due to anticipatory repudiation/inability to perform

Answer 9

unambiguous statement

1. party won’t perform
2. made prior to time that performance was due

if you get this then you don’t have to complete your performance and you can start suing for damages.

Question 10

can you retract repudiation?

Answer 10

YES -

Question 11

inability to perform

Answer 11

if one party can’t perform her side of the deal then the other side doesn’t have to keep going on his side.

Question 12

Excuse by later contract - rescission

Answer 12

cancellation - is performance still remaining from each of the K parties

Question 13

impracticability

Answer 13

party to perform encountered an extreme and unreasonable difficulty or expense and its nonoccurence was a basic assumption of the contract

Question 14

frustration

Answer 14

purpose or value of the k is destroyed by a supervening event not reasonably foreseeable at the time of the K