Contemporary Business Law 2

Law
Tutor: None Selected Time limit: 1 Day

What are some examples of legal and equitable remedies available for breach of contracts? What are some legal excuses for nonperformance or other grounds for discharge of contracts? Provide examples

Jan 18th, 2015

Specific Performance: This remedy is used when court order compel the party in breach, to perform a certain task or bargain which was already a part of the contract

Contract Rescission:

In this remedy, old contract is cancelled and may be a new contract with new or improved terms are made.

Contract Reformation

In this remedy, some of terms which are controversial in the contract are reformed. Or conflicting terms are removed and fix.


Execuses:

EXCUSES can be:

Mistakes: For example. both company made mistakes in estimating the budget or signing some contract

Fraud: One example of fraud in the execution is when a party is tricked into signing the contract.

Unconscionability: for example High pressure sales pitch



Jan 18th, 2015

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Jan 18th, 2015
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