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

2. Learning Objectives: Types of Conditions Performance of Conditions Excuses for Nonperformance Discharge of Contracts Chapter 192 CHAPTER 19: CONTRACT PERFORMANCE, NONPERFORMANCE, AND DISCHARGE

3. 1.Definition: an act or event that triggers performance of a promise. 2.Types of Conditions: a.Classifications as to when conditioning event must occur: i.Condition Precedent: condition must occur before duty to perform arises. ii.Conditions Concurrent: performances must occur at the same time. iii.Conditions Subsequent: event discharges a duty to perform. Chapter 193 CONDITIONS

4. 1.Definition: an act or event that triggers performance of a promise. 2.Types of Conditions: a.Classifications as to when conditioning event must occur b.Classifications as to the way they are created: i.Express Conditions: stated in contract. ii.Constructive Conditions: imposed by the court. Chapter 194 CONDITIONS

5. 1.Tender of Performance a.Definition: offer to perform b.Consequences if tender of payment is made 2.Substantial Performance a.Definition: performance is considerable, with only shortcomings of a trivial nature. b.Consequences: nonmaterial breach. Chapter 195 PERFORMANCE OF CONDITIONS

6. 3.Divisibility: Installment Contracts 4.Anticipatory Repudiation a.Definition: refusal to perform is stated before time of performance. b.Result: non-repudiating party has an election of remedies. Chapter 196 PERFORMANCE OF CONDITIONS

7. 1.Hindrance, Prevention, or Noncooperation 2.Waiver 3.Impossibility of Performance 4.Commercial Frustration 5.Commercial Impracticability Under the Code Chapter 197 EXCUSES FOR NONPERFORMANCE

8. 1.Methods 2.Payment 3.Accord and Satisfaction 4.Statute of Limitations Chapter 198 DISCHARGE OF CONTRACTS

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