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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
» Performance and Forbearance / Default and Breach 2019.05.08 172
267 Real Estate Law 30 2019.05.07 134
266 Quiz 5 2019.05.07 9072
265 Real Estate Law 29 2019.05.07 203
264 Real Estate Law 28 2019.05.07 124
263 Real Estate Law 27 2019.05.07 108
262 Real Estate Law 26 2019.05.07 118
261 Real Estate Law 25 2019.05.07 109
260 Real Estate Law 24 2019.05.07 130
259 Real Estate Law 23 2019.05.07 130
258 Real Estate Law 22 2019.05.07 111
257 Quiz 4 2019.05.06 6378
256 Real Estate Law 21 2019.05.06 118
255 Real Estate Law 20 2019.05.06 128
254 Real Estate Law 19 2019.05.06 135
253 Real Estate Law 18 2019.05.06 136
252 Real Estate Law 17 2019.05.06 124
251 Real Estate Law 16 2019.05.06 143
250 Real Estate Law 15 2019.05.06 141
249 Quiz 3 2019.05.05 7958
248 Chapter 3 Summary 2019.05.05 190
247 Real Estate Law 14 2019.05.05 267
246 Real Estate Law 13 2019.05.05 122
245 Real Estate Law 12 2019.05.05 139
244 Real Estate Law 11 2019.05.05 144
243 Real Estate Law 10 2019.05.05 116
242 Real Estate Law 9 2019.05.05 141
241 Real Estate Law 8 2019.05.05 143
240 Real Estate Law 7 2019.05.05 152
239 Quiz Law 2 2019.05.04 5697