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A right to terminate a contract arises for: breach of a condition of the contract, no matter how trivial the breach of the condition may be; repudiatory breach, that is an actual breach of an innominate term, where the consequence of the breach is sufficiently serious to give rise to a right to terminate; or
First, where a party to a contract exercises an express right of termination, he or she is sometimes said to have exercised a right to rescind the contract. Secondly, where a party is faced with a repudiation, the party can elect to terminate the contract; this too has often been referred to as an election to rescind. "Rescission" at common law.
Jacob & Youngs, Inc. v. Kent, 230 N.Y. 239 (1921) is an American contract law case of the New York Court of Appeals with a majority opinion by Judge Benjamin N. Cardozo.The case addresses several contract principles including applying the doctrine of substantial performance in preventing forfeiture and determining the appropriate remedy following a partial or defective performance.
A May 3 order signed by both sides in the court case says that certain sensitive documents that Ball is requesting be produced by the school district can be marked confidential.
Accord and satisfaction is a contract law concept about the purchase of the release from a debt obligation. It is one of the methods by which parties to a contract may terminate their agreement. The release is completed by the transfer of valuable consideration that must not be the actual performance of the obligation itself. [1]
United States Naval Institute v. Charter Communications, Inc., 936 F.2d 692 (Second Cir. 1991) is a case discussing the extent and nature of contract damages. Damages for breach of contract are generally to provide damages for the injured party's loss; an injured party is not awarded damages based on the breaching party's gain. Snepp v.
In this case, the aggrieved party will only acquire the right to terminate if the repudiating party repudiates an obligation which, if breached, would grant a right to terminate. [ 6 ] If the promising party's repudiation makes it impossible to fulfil its promise, then retraction is not possible and no act by the promising party can restore the ...
The court suggested various other circumstances under which Hadley could have entered into this contract that would not have presented such dire circumstances, and noted that where special circumstances exist, provisions can be made in the contract voluntarily entered into by the parties to impose extra damages for a breach.
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