Duties Of Performance

Front 1

Performance

Back 1

Performance is due when there are no conditions to performance, or all conditions have been satisfied or excused

Front 2

When there are no conditions to performance/ by timing

Back 2

1)conditions precedent will trigger a party's duty of performance
2) Conditions subsequent will cut off a party's duty of performance
3) concurrent conditions (not really tested) simultaneous condition.

Front 3

When there are no conditions to performance/ type by source

Back 3

1) express conditions are by words; strictly construed.
2) Implied/constructive conditions; substantial performance is enough

Front 4

When any unsatisfied conditions have been excused

Back 4

1) Failure to cooperate
2) substantial performance
3) waiver or estoppel
4) impossibility, impracticability or frustration

Front 5

What events will discharge the duty of performance

Back 5

Performance or tender of performance (offer to pay or perform by one who is willing to pay and able to do so)
2) condition subsequent will cut off a duty of performance

Front 6

What events will discharge the duty of performance/ Unforseen, post-formation changes of circumstance

Back 6

1) supervening illegality
2) impossibility- literal impossibility
3) impracticability- unduly burdensome
4)Frustration of purpose- central purpose of the contract is undermine

Front 7

What events will discharge the duty of performance/ parties agreement

Back 7

1) recission
2) modification
3) novation (occasionally on) (mutual agreement to substitute a new party to perform an obligation
4) accord and satisfaction/ account stated- accord is an agreement by the party to an existing obligation to accept a different performance in satisfaction of that existing obligation

Front 8

What events will discharge the duty of performance/ statute of limitation

Back 8

1) oral contract (3 years)
2) Written (6 years) time of breach triggers the SOL/ promissory estoppe