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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 1320
261 Prohibited Acts 2023.07.06 141
260 Orange County home median price $732,750 2020.02.01 141
259 Real Estate Settlement Procedures Act (RESPA) 2019.05.23 141
» Performance and Forbearance / Default and Breach 2019.05.08 141
257 Chapter Conclusion Chapter 14 2019.04.27 141
256 Four unities 2019.04.03 141
255 TEST 16 2019.03.10 141
254 TEST 9 2019.03.05 141
253 Review Chapter 10 2019.05.12 140
252 Chapter 4 - TEST 2019.03.02 140
251 Real Estate Practice -4 (Understanding-Answers) 2019.04.12 139
250 Real Estate Law 87 2019.05.15 138
249 Real Estate Law 56 2019.05.11 138
248 TEST 4 - Correction 2019.03.02 138
247 Real Estate License Laws and the Real Estate Commission 2019.02.27 137
246 Real Estate Law 64 2019.05.12 136
245 Movies/television/media 2018.08.26 136
244 Exam Essentials 2019.03.01 135
243 Mortgage demand falls to lowest level in 22 years 2022.06.11 135
242 Chapter 2 Conclusion 2019.03.01 135
241 Chapter 14 Conclusion 2019.05.16 134
240 Chapter 2 Review 2019.05.04 134
239 Chapter 27 Conclusion 2019.03.27 133
238 The California Real Estate Commissioner 2019.02.28 132
237 Chapter 2 Review (4) 2019.05.04 131
236 prohibit discrimination 2023.07.06 130
235 CRMLS Listing Status Definitions file 2021.12.22 130
234 Real Estate Law 32 2019.05.08 130
233 Real Estate Law 90 2019.05.16 129
232 Real Estate Law 105 2019.05.17 128