Final Law Chapter Flashcards Preview

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Flashcards in Final Law Chapter Deck (10):
1

Conditions Precedent

A condition that must be fulfilled before a parties performance can be required

2

Discharge

Termination of a contract

3

What are 2 types of impossibility?

Objective
Subjective

4

Conditions concurrent

When each parties performance is conditioned on the other parties performance

5

Novation

The substitution of a third party for one of the original parties

6

Subjective Impossibility

Someone not wanting to do it

7

Conditions Subsequent

A condition operates to end a parties absolute promise to perform

8

Objective Impossibility

When something cannot be done

9

What are the 2 types of performance?

Complete
Substantial

10

Material Breach

Performance is not substantially performed or performed at all

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