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BSL 212 Notes

by: Danielle Holmes

BSL 212 Notes BSL 212

Danielle Holmes
GPA 3.4

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About this Document

Descriptive notes to help with final
Introduction to business law
Martinez Evora
Class Notes
25 ?




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This 1 page Class Notes was uploaded by Danielle Holmes on Tuesday April 19, 2016. The Class Notes belongs to BSL 212 at University of Miami taught by Martinez Evora in Fall 2015. Since its upload, it has received 17 views. For similar materials see Introduction to business law in Business at University of Miami.

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Date Created: 04/19/16
Chapter 17 Business Law Notes Conditions: events; if the condition fails, performance is excused without liability Performance -conditions (precedent or expressed) Satisfaction Contract: a type of condition contract (expressed) Breach Common Law: 1. Substantial Performance: a minor breach where the non breaching party is not excused. 2. Material Breach (non breaching party is excused from paying; ex: if time was of the essence, and performance was not delivered on time.) Minor Breach: if over 50% was completed and parties did not make time of the essence. UCC: Much more strict. “Perfect Tender” is required. Performance is not due (anticipatory repudiation) 1. satisfaction is subjective, ex: employment, taste, aesthetics (IF you are satisfied) 2. satisfaction is objective, ex: construction, functionality (IF the reasonable person would be satisfied) ***Silvestri Is performance good enough? If not, it is a breach of contract. Discharge (by agreement of parties): excused from performing the contract (is mutual) by operation of law: -impossibility (not subjective, it is objective; no one can do it) -impracticability (circumstances could not be anticipated; unforeseen event is impracticable and too expensive; makes no sense to move forward because it has become too expensive.) -frustration of purpose: parties are excused from performing -subsequent illegality: if it is illegal then become legal, they are excused.


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