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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 Chapter 9 Conclusion 2019.04.15 68
260 Chapter 9 Quiz 2019.04.15 161
259 Real Estate Practice - 21 (Understanding-Answers) 2019.04.16 55
258 Real Estate Practice - 22 (Understanding-Answers) 2019.04.16 82
257 Chapter 10 Conclusion 2019.04.16 94
256 Chapter 10 Quiz 2019.04.16 167
255 Real Estate Practice - 23 (Understanding-Answers) 2019.04.16 75
254 Real Estate Practice - 24 (Understanding-Answers) 2019.04.16 50
253 Chapter 10 Conclusion 2019.04.16 90
252 Chapter 11 Quiz 2019.04.16 218
251 Real Estate Practice - 25 (Understanding-Answers) 2019.04.26 859
250 Real Estate Practice - 26 (Understanding-Answers) 2019.04.26 57
249 융자 프로그램의 종류 2019.04.26 55
248 Real Estate Practice - 27 (Understanding-Answers) 2019.04.26 80
247 Chapter 12 Conclusion 2019.04.26 169
246 Chapter 12 Quiz 2019.04.26 281
245 Real Estate Practice - 28 (Understanding-Answers) 2019.04.26 96
244 Real Estate Practice - 29 (Understanding-Answers) 2019.04.27 61
243 Real Estate Practice - 30 (Understanding-Answers) 2019.04.27 58
242 Chapter 13 Conclusion 2019.04.27 200
241 Chapter 13 Quiz 2019.04.27 199
240 Real Estate Practice - 31 (Understanding-Answers) 2019.04.27 81
239 Real Estate Practice - 32 (Understanding-Answers) 2019.04.27 66
238 Chapter Conclusion Chapter 14 2019.04.27 141
237 Chapter 14 Quiz 2019.04.27 589
236 Real Estate Practice - 33 (Understanding-Answers) 2019.04.29 89
235 Chapter 15: Using Real Estate Assistants Summary 2019.04.29 85
234 Chapter 15 Quiz 2019.04.29 152
233 Real Estate Practice - 34 (Understanding-Answers 2019.04.29 78
232 Real Estate Practice - 35 (Understanding-Answers 2019.04.29 85