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Performance Of The Contract Notes

Law Notes > Contract Notes

This is an extract of our Performance Of The Contract document, which we sell as part of our Contract Notes collection written by the top tier of Griffith University students.

The following is a more accessble plain text extract of the PDF sample above, taken from our Contract Notes. Due to the challenges of extracting text from PDFs, it will have odd formatting:


Other

common

terms:


Definitions

Terms


Entire

Contract

Terms

Defines

key

terms

within

the

contract


"this

document

constitutes

the

entire


agreement

of

the

parties

and

supersedes


all

prior

communications."


Signifies

final

and

complete


agreements


Best

Endeavors

Term


"the

agent

will

use

his

best

endeavours


to

promote

and

extend

the

sale

of

the


product

in

the

state"


Good

Faith

Terms


Force

Majeure

Term


"Neither

party

shall

be

liable

in


damages

or

have

the

right

to

terminate


the

agreement

for

any

delay

or

default


in

performance..."


Frees

both

parties

from

liability

and


obligations

should

unexpected


circumstances

arise


Restraint

of

Trade

Term


"for

a

period

of

one

year

after

the


termination

of

this

engagement,

the


salesman

will

not

operate

within

one


mile

of

a

main

office..."


Limits

where

a

party

can

trade


Agreed

(liquidated)

Damages

Term


Dispute

Resolution

Term


Jurisdiction

Term


Proper

Law

of

the

Contract

PAGE

102

PERFORMANCE

OF

THE


CONTRACT


Express

terms

-

written

or

said

at

the

time

of

the

contracts

formation


Implied

terms

-

the

judges

"invent"

because

there

is

nothing

said

or

written

that


covers

them


Discharging

a

contract:

* By

performance

* By

frustration

* By

agreement

between

parties

* By

breach

* By

operation

of

law


Discharge

by

Performance:

* A

party

must

perform

his/her

obligations


o At

the

time

required

by

the

contract

and;


o To

the

standard

required

by

the

contract

* A

party

must

offer

(tender)

performance


o At

the

required

time


o At

the

required

place


o That

conforms

to

the

requirements

of

the

K


o Unconditionally


o Cash


SS? Or

other

recognised

tender

* Time

for

performance

may

be

express

or

implied

* Express:


o Date


o Time

period


o Event

* Implied:


o Within

a

reasonable

time


SS? Perri

v

Coolangatta

Investments

Limited

(1982)

149

CLR

537

* Time

can

be

essential

or

non--essential

* Essential:


o If

the

party

doesn't

perform

on

time,

this

is

a

breach

of

contract


o Other

party

may

terminate

the

contract


o Party

in

breach

may

have

to

pay

compensation

* Non--Essential:


o Other

party

cannot

terminate

contract

but

may

still

be

able

to


apply

for

damages

--

"time

is

of

the

essence"

PAGE

103

Buy the full version of these notes or essay plans and more in our Contract Notes.