Exam 15: Performance and Discharge

If a contract condition is not satisfied,the obligations of the contracting parties are discharged.

Performance that provides a party with most of the benefits of a contract,in spite of a deviation from the terms,is complete performance.

A condition precedent must be met before a party's performance can be required.

Kip sells an apartment building to Lacy with a promise to repair the roof, which violates the local housing code, within six months. One year later, Kip sends Milo, a carpenter, to fix the roof. Lacy orders Milo to leave and refuses to make further payments to Kip, who files a suit against Lacy. -Refer to Fact Pattern 15-3.Under the circumstances,with respect to damages,Chris can

Belle enters into a contract to subdivide and sell housing lots in Cole's hillside field if Dell City annexes the property within the next year.Belle's duty to perform is

Any breach allows the nonbreaching party to cancel the contract.

When a condition operates to terminate a party's absolute promise to perform,it is a condition precedent.