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부동산

Performance and Forbearance 

In contract language, "performance" means to do what one agreed to do. Some contracts require a party to refrain from doing something and that is called "forbearance". Contracts may include both performance and forbearance requirements. 

Example of Performance:

A homeowner enters into a contract with a flooring company to have wood floors installed in his or her home. The company agrees to install certain materials within a certain timeframe and the homeowner agrees to pay a certain price at various stages of installation. Each party signs and the contract is dated. The homeowner and the company now must perform according to contract. 

Example of Forbearance:

A tenant signs a lease for an apartment and agrees not to redecorate without management approval, not to park in driveways, not to leave trash on the sidewalk, and so on. The landlord agrees not to enter the apartment without appropriate notice. The tenant and the landlord must refrain from doing these things according to the lease contract. 

Default and Breach

Default is to fail to do something required by law or duty. California laws protect the rights of parties who have entered into valid contracts. Those who fail to perform are in default and may be sued by the other party. 

breach is something torn or broken. In contract law, it means that someone has broken his or her word. 

These terms will all come up throughout the chapter as we continue our discussion of contract law.

No. Subject Date Views
Notice 부동산 용어사전 2019.04.15 2202
Notice 부동산 용어 (A to Z) 2019.03.03 1442
291 Real Estate Law 51 2019.05.10 98
290 Real Estate Law 50 2019.05.10 103
289 Real Estate Law 49 2019.05.10 96
288 Real Estate Law 48 2019.05.10 115
287 Real Estate Law 47 2019.05.10 97
286 Real Estate Law 46 2019.05.10 108
285 Quiz 7 2019.05.09 9914
284 Real Estate Law 45 2019.05.09 104
283 Real Estate Law 44 2019.05.09 99
282 Real Estate Law 43 2019.05.09 106
281 Real Estate Law 42 2019.05.09 101
280 Real Estate Law 41 2019.05.09 115
279 Real Estate Law 40 2019.05.09 117
278 Real Estate Law 39 2019.05.08 163
277 Real Estate Law 38 2019.05.08 122
276 Quiz 6 2019.05.08 7665
275 Real Estate Law 37 2019.05.08 106
274 Real Estate Law 36 2019.05.08 113
273 Real Estate Law 35 2019.05.08 121
272 Real Estate Law 34 2019.05.08 117
271 Real Estate Law 33 2019.05.08 104
270 Real Estate Law 32 2019.05.08 148
269 Real Estate Law 31 2019.05.08 314
» Performance and Forbearance / Default and Breach 2019.05.08 150
267 Real Estate Law 30 2019.05.07 108
266 Quiz 5 2019.05.07 9038
265 Real Estate Law 29 2019.05.07 183
264 Real Estate Law 28 2019.05.07 94
263 Real Estate Law 27 2019.05.07 87
262 Real Estate Law 26 2019.05.07 100