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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
271 Real Estate Law 33 2019.05.08 131
270 Real Estate Law 32 2019.05.08 171
269 Real Estate Law 31 2019.05.08 340
» Performance and Forbearance / Default and Breach 2019.05.08 188
267 Real Estate Law 30 2019.05.07 137
266 Quiz 5 2019.05.07 9086
265 Real Estate Law 29 2019.05.07 210
264 Real Estate Law 28 2019.05.07 136
263 Real Estate Law 27 2019.05.07 114
262 Real Estate Law 26 2019.05.07 135
261 Real Estate Law 25 2019.05.07 114
260 Real Estate Law 24 2019.05.07 138
259 Real Estate Law 23 2019.05.07 138
258 Real Estate Law 22 2019.05.07 114
257 Quiz 4 2019.05.06 6454
256 Real Estate Law 21 2019.05.06 123
255 Real Estate Law 20 2019.05.06 132
254 Real Estate Law 19 2019.05.06 140
253 Real Estate Law 18 2019.05.06 146
252 Real Estate Law 17 2019.05.06 131
251 Real Estate Law 16 2019.05.06 149
250 Real Estate Law 15 2019.05.06 147
249 Quiz 3 2019.05.05 7962
248 Chapter 3 Summary 2019.05.05 200
247 Real Estate Law 14 2019.05.05 271
246 Real Estate Law 13 2019.05.05 129
245 Real Estate Law 12 2019.05.05 142
244 Real Estate Law 11 2019.05.05 148
243 Real Estate Law 10 2019.05.05 120
242 Real Estate Law 9 2019.05.05 145