Ch 12 assignment

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Forsyth Technical Community College *

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150

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Management

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Feb 20, 2024

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docx

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Mackenzie Carroll LEX 150-830A Ch 12 Assignment Questions for review and discussion 5. What constitutes the satisfactory performance of a contract? According to the textbook, satisfactory performance is when personal taste or objective standards have determined that the parties have performed their contractual duties that are in the agreement. 6. What is the difference between complete and substantial performance? Complete performance happens when all the parties complete every term, condition, and promise as agreed upon in the contract. Whereas a substantial performance happens when a party completes all promised terms and conditions this excludes the minor details that do not affect the intent of the contract. 7. How can a contract be discharged by nonperformance? Nonperformance is the failure to fulfill a promise, contract, or obligation. Nonperformance can sometimes result in a breach of contract. Discharge by nonperformance is Done by discharge by agreement, discharge by impossibility and by operation of law, or discharge by breach of contract. 8. What is anticipatory repudiation? Anticipatory repudiation happens when a party of a contract either states or implies that they have no intention of completing the contract. 9. What types of damages are available in the event of a breach of contract? In the event of a breach of contract, the court may ask for a rescission, specific performance, or an injunction. 10. What is the difference between specific performance and injunctive relief? Specific performance is a court order calling for the party that breached the contract to do what they had promised to do under the original contract. Whereas an injunction is an order issued by the court that tells a party to not do something within the contract. Injunctions may either be temporary or permanent.

Cases for Analysis 1. Identify each of the parties in cases as assignor, assignee, or obligor. Was Lerro within his rights when he refused to pay Olsen and ordered Wesley to remove the driveway? Explain. a. The assignor is Lee Wesley. The assignee is Hanover Construction. The obligor is Walter Lerro. b. Lerro may not be able to have the driveway removed because of a payment dispute. 2. Who was obligated to notify Blackston of the assignment? Since it was the clerk who was assigned to receive the payments, it was the clerk’s obligation to notify Blackston of the assignment. 11. Was injunctive relief an appropriate remedy in this case? Explain. Injunctive relief was not an appropriate remedy in this case. Smith made a promise to not work as a salesperson in Galveston County for 3 years after leaving Bob Pagan Ford Inc. He made a breach of contract.

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