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Performance and Forbearance / Default and Breach

2019.05.08 08:19 Views : 1072

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. 

A 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
280 Real Estate Law 41 2019.05.09 1074
279 Real Estate Law 40 2019.05.09 1106
278 Real Estate Law 39 2019.05.08 1075
277 Real Estate Law 38 2019.05.08 1052
276 Quiz 6 2019.05.08 8460
275 Real Estate Law 37 2019.05.08 1064
274 Real Estate Law 36 2019.05.08 1070
273 Real Estate Law 35 2019.05.08 1096
272 Real Estate Law 34 2019.05.08 1099
271 Real Estate Law 33 2019.05.08 1102
270 Real Estate Law 32 2019.05.08 1060
269 Real Estate Law 31 2019.05.08 1204
» Performance and Forbearance / Default and Breach 2019.05.08 1072
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266 Quiz 5 2019.05.07 9916
265 Real Estate Law 29 2019.05.07 1082
264 Real Estate Law 28 2019.05.07 1057
263 Real Estate Law 27 2019.05.07 964
262 Real Estate Law 26 2019.05.07 1092
261 Real Estate Law 25 2019.05.07 1094
260 Real Estate Law 24 2019.05.07 1091
259 Real Estate Law 23 2019.05.07 1076
258 Real Estate Law 22 2019.05.07 975
257 Quiz 4 2019.05.06 7290
256 Real Estate Law 21 2019.05.06 1074
255 Real Estate Law 20 2019.05.06 1118
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