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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.

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Notice 부동산 용어 (A to Z) 2019.03.03 1336
201 Chapter 2 Review 2019.05.04 141
200 Review Chapter 10 2019.05.12 141
199 Chapter 4 - TEST 2019.03.02 142
198 Real Estate Practice -4 (Understanding-Answers) 2019.04.12 142
197 Real Estate Settlement Procedures Act (RESPA) 2019.05.23 142
196 Real Estate License Laws and the Real Estate Commission 2019.02.27 143
195 TEST 4 - Correction 2019.03.02 143
194 Law 1 2019.05.02 144
» Performance and Forbearance / Default and Breach 2019.05.08 144
192 Real Estate Law 69 2019.05.13 144
191 Orange County home median price $732,750 2020.02.01 144
190 requirement be restored 2019.05.22 146
189 TEST 9 2019.03.05 147
188 TEST 16 2019.03.10 147
187 Four unities 2019.04.03 147
186 Real Estate Law 56 2019.05.11 147
185 Real Estate Law 64 2019.05.12 147
184 Real Estate Law 87 2019.05.15 147
183 appraiser payment 2019.05.25 149
182 Chapter Conclusion Chapter 14 2019.04.27 150
181 culmination 2019.05.22 150
180 Chapter 3 Summary 2019.05.05 154
179 Real Estate Law 39 2019.05.08 154
178 8566 Fallbrook Circle Unit#711B - $ 675000 2021.08.31 154
177 Quitclaim Deed 2019.05.27 155
176 HUD’s advertising guidelines 2023.07.06 155
175 The major concerns of state laws 2023.07.05 156
174 Athletics 2018.08.26 157
173 Music 2018.08.26 157
172 Estimated Value - 8885 2021.08.31 157