Asked by Alyssa Cansler on Jun 13, 2024
Verified
List the ways by which a party's contractual obligations can be terminated.
Contractual Obligations
Duties that parties are legally bound to perform as per the terms of a contract.
- Determine the circumstances prompting the cessation or infringement of a contract, with particular attention to anticipatory repudiation and substantial performance.
Verified Answer
AA
ariii arianaaJun 19, 2024
Final Answer :
A party's contractual obligations can be terminated by performance, the happening of a condition or its failure to occur, material breach by one or both parties, agreement of the parties, and operation of law.
Learning Objectives
- Determine the circumstances prompting the cessation or infringement of a contract, with particular attention to anticipatory repudiation and substantial performance.