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Shurmust
Shurmust, Attorney
Category: Business Law
Satisfied Customers: 165
Experience:  I have completed over 50 criminal jury trials in the last three years and teach Business Law part-time for a state college.
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Identify and explain three different kinds of performance of

This answer was rated:

Identify and explain three different kinds of performance of contractual obligations and their consequences.

Shurmust :

I am more than happy to help assist you on this matter. Are you currently a law student?

Customer:

no

Customer:

just taking business law and the chapers we are covering are very confusing to me

Customer:

please keep it simple, so I understand what you are saying

Shurmust :

Ok. I will be more than happy to assist you on this matter. Please note, I do not earn credit unless I receive positive credit from you. It is my hope to answer your question in a simple manner.

Customer:

thank you

Customer:

will you be answering it here online?

Shurmust :

What textbook are you using?

Customer:

The Legal Environment of Business by Cross/Miller

Customer:

The data is still not down loaded

Shurmust :

What do you mean?

Customer:

In my inbox it stated that my answer has arrived. When I click to download nothing shows up.

Shurmust :

Is that the question that is being asked, or is it asked in a different manner, because I am having a hard time understanding it.

Customer:

Identify and explain three different kinds of performance of contractual obligations and their consequences

Customer:

Do you provide the information via email or here?

Shurmust :

Here.

Customer:

ok, thank you.

Shurmust :

Give me a few minutes.

Customer:

no problem, I will be right back.

Shurmust :

What chapter are you in?

Customer:

9 and 10

Customer:

This question is in regards XXXXX XXXXX 10

Customer:

I believe it is talking about complete performance, substantial performace, etc.

Shurmust :

That is what I was thinking.

Shurmust :

Performance can be accomplished by tender-which is an unconditional offer to perform by a person who is ready, willing and able to do so. Therefore, a seller wh places goods at the disposal of a buyer has tendered delivery and can demand payment according to the terms of the agreement. A buyer who offers to pay for goods has tendered payment and can demand delivery of the goods.

Shurmust :

Once performance has been tendered, the party making the tender has done everything possible to carry out the terms of the contract. If the other party then refuses to perform, the party making the tender can consider the duty discharged and sue for breach of contract.

Shurmust :

Performance can also be completed by both parties fullfill their respective roles/dutes by performing the acts they promised to do.

Customer:

that I understand, awesome

Shurmust :

Normally, conditions expressly stated in the contract must fully occur in all aspects for complete perforamnce of the contract to occur.

Customer:

what about by agreement or by operation of law

Shurmust :

Any deivations breaches the contract and discharges the other party's obligations to peform. If a party fails to "completely" fill their roles, the question becomes whether the party has "substantially performed" under the contract.

Shurmust :

To qualify for substantial performance the performance must not vary greatly from the performance posmised in the contract and it must create substantially the same benefits as those promised in the contract. If it is substantial, the other party must live up to their end up of the bargain or they are in breach.

Shurmust :

Those are ways a contract can be discharged.

Customer:

thank you

Shurmust :

The only other thing that I would suggest is that you discuss the differences between a condition precedent, condition subsequent and a condition concurrent.

Shurmust :

However, "by performance" you should discuss the differences between complete and substantial.

Customer:

Ok, thank you so very much.

Shurmust :

Please make sure to give me positive feedback, if you need help in the future, ask for Shurmust!

Customer:

Thank you I will.

Shurmust and 3 other Business Law Specialists are ready to help you