1. Contract (II)

2. Discharge of Contracts Performance: Occurrence or nonoccurrence of condictions Discharge by agreement Discharge by impossibility Discharge by breach

3. Performance complete substantial insufficient

4. Discharge by impossibility One party to a personal services contract dies; The specific subject matter of the contract is destroyed; A change in the law renders performance illegal; Performance becomes commercially impractical

5. Breach of Contract Material breach (insufficient performence)

6. Remedies The Expectation Interest – putting the injured party in the same place he would have been had the contract been fully performed. Reliance – Allowing the injured party to recover the expenses incurred due to his reliance on the contract being performed Restitution – a “cancellation” of the contract where the injured party recovers only those payments he has made to the breaching party

7. Damages Compensatory Consequential Punitive Nominal Liqudated