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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
201 Real Estate Law 8 2019.05.05 112
200 Real Estate Law 9 2019.05.05 100
199 Real Estate Law 10 2019.05.05 84
198 Real Estate Law 11 2019.05.05 111
197 Real Estate Law 12 2019.05.05 104
196 Real Estate Law 13 2019.05.05 94
195 Real Estate Law 14 2019.05.05 237
194 Chapter 3 Summary 2019.05.05 153
193 Quiz 3 2019.05.05 7918
192 Real Estate Law 15 2019.05.06 113
191 Real Estate Law 16 2019.05.06 106
190 Real Estate Law 17 2019.05.06 96
189 Real Estate Law 18 2019.05.06 98
188 Real Estate Law 19 2019.05.06 99
187 Real Estate Law 20 2019.05.06 99
186 Real Estate Law 21 2019.05.06 87
185 Quiz 4 2019.05.06 6185
184 Real Estate Law 22 2019.05.07 85
183 Real Estate Law 23 2019.05.07 94
182 Real Estate Law 24 2019.05.07 96
181 Real Estate Law 25 2019.05.07 79
180 Real Estate Law 26 2019.05.07 86
179 Real Estate Law 27 2019.05.07 78
178 Real Estate Law 28 2019.05.07 84
177 Real Estate Law 29 2019.05.07 170
176 Quiz 5 2019.05.07 9033
175 Real Estate Law 30 2019.05.07 97
» Performance and Forbearance / Default and Breach 2019.05.08 141
173 Real Estate Law 31 2019.05.08 301
172 Real Estate Law 32 2019.05.08 130