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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 1335
291 Open-End Mortgage 2019.06.05 173
290 If a contract for sale provides that the owner is selling his home in an "as-is" condition, then 2019.05.27 173
289 Real Estate Law 29 2019.05.07 173
288 Chapter 12 Conclusion 2019.04.26 171
287 12555 Euclid Street #31 Garden Grove, CA 92840 2017.07.09 170
286 A promissory note 2019.05.27 169
285 Real Estate Law 1 2019.05.03 169
284 Chapter 2 Review (5) file 2019.05.04 168
283 Chapter 10 Quiz 2019.04.16 168
282 prohibit discrimination 2023.07.06 164
281 Chapter 2 Review (2) 2019.05.04 164
280 Chapter 2 Review (3) 2019.05.04 163
279 Chapter 9 Quiz 2019.04.15 163
278 1031 file 2022.01.04 161
277 Department of Real Estate - Commissioner 2019.06.01 161
276 Real Estate Law 6 2019.05.04 161
275 96003 2019.05.29 160
274 Real Estate Law 62 2019.05.12 159
273 Secured Property Taxes file 2021.10.17 158
272 Chapter 15 Quiz 2019.04.29 158
271 Music 2018.08.26 157
270 Athletics 2018.08.26 157
269 Sales of real property by a foreign person 2023.07.04 156
268 Estimated Value - 8885 2021.08.31 156
267 Quitclaim Deed 2019.05.27 155
266 Real Estate Law 39 2019.05.08 154
265 Chapter 3 Summary 2019.05.05 154
264 8566 Fallbrook Circle Unit#711B - $ 675000 2021.08.31 153
263 HUD’s advertising guidelines 2023.07.06 150
262 culmination 2019.05.22 150