1. CHAPTER 19: CONTRACT PERFORMANCE, NONPERFORMANCE, AND DISCHARGE

2. CHAPTER 19: CONTRACT PERFORMANCE, NONPERFORMANCE, AND DISCHARGE
Learning Objectives:
Types of Conditions
Performance of Conditions
Excuses for Nonperformance
Discharge of Contracts
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3. CONDITIONS
Definition: an act or event that triggers performance of a promise.
Types of Conditions:
Classifications as to when conditioning event must occur:
Condition Precedent: condition must occur before duty to perform arises.
Conditions Concurrent: performances must occur at the same time.
Conditions Subsequent: event discharges a duty to perform.
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4. CONDITIONS
Definition: an act or event that triggers performance of a promise.
Types of Conditions:
Classifications as to when conditioning event must occur
Classifications as to the way they are created:
Express Conditions: stated in contract.
Constructive Conditions: imposed by the court.
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5. PERFORMANCE OF CONDITIONS
Tender of Performance
Definition: offer to perform
Consequences if tender of payment is made
Substantial Performance
Definition: performance is considerable, with only shortcomings of a trivial nature.
Consequences: nonmaterial breach.
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6. PERFORMANCE OF CONDITIONS
Divisibility: Installment Contracts
Anticipatory Repudiation
Definition: refusal to perform is stated before time of performance.
Result: non-repudiating party has an election of remedies.
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7. EXCUSES FOR NONPERFORMANCE
Hindrance, Prevention, or Noncooperation
Waiver
Impossibility of Performance
Commercial Frustration
Commercial Impracticability Under the Code
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8. DISCHARGE OF CONTRACTS
Methods
Payment
Accord and Satisfaction
Statute of Limitations
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9. CHAPTER 19: CONTRACT PERFORMANCE, NONPERFORMANCE, AND DISCHARGE