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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
Notice 부동산 용어사전 2019.04.15 2075
Notice 부동산 용어 (A to Z) 2019.03.03 1321
261 Real Estate Law 69 2019.05.13 143
260 Law 1 2019.05.02 143
259 Orange County home median price $732,750 2020.02.01 141
258 Real Estate Settlement Procedures Act (RESPA) 2019.05.23 141
» Performance and Forbearance / Default and Breach 2019.05.08 141
256 Chapter Conclusion Chapter 14 2019.04.27 141
255 Four unities 2019.04.03 141
254 TEST 16 2019.03.10 141
253 TEST 9 2019.03.05 141
252 Review Chapter 10 2019.05.12 140
251 Chapter 4 - TEST 2019.03.02 140
250 Real Estate Practice -4 (Understanding-Answers) 2019.04.12 139
249 The major concerns of state laws 2023.07.05 138
248 Real Estate Law 87 2019.05.15 138
247 Real Estate Law 56 2019.05.11 138
246 TEST 4 - Correction 2019.03.02 138
245 Sales of real property by a foreign person 2023.07.04 137
244 Real Estate License Laws and the Real Estate Commission 2019.02.27 137
243 Real Estate Law 64 2019.05.12 136
242 Mortgage demand falls to lowest level in 22 years 2022.06.11 136
241 Movies/television/media 2018.08.26 136
240 Exam Essentials 2019.03.01 135
239 Chapter 2 Conclusion 2019.03.01 135
238 Chapter 14 Conclusion 2019.05.16 134
237 Chapter 2 Review 2019.05.04 134
236 Chapter 27 Conclusion 2019.03.27 133
235 The California Real Estate Commissioner 2019.02.28 132
234 HUD’s advertising guidelines 2023.07.06 131
233 CRMLS Listing Status Definitions file 2021.12.22 131
232 Chapter 2 Review (4) 2019.05.04 131