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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
291 Real Estate Law 51 2019.05.10 92
290 Real Estate Law 50 2019.05.10 95
289 Real Estate Law 49 2019.05.10 86
288 Real Estate Law 48 2019.05.10 102
287 Real Estate Law 47 2019.05.10 90
286 Real Estate Law 46 2019.05.10 91
285 Quiz 7 2019.05.09 9896
284 Real Estate Law 45 2019.05.09 93
283 Real Estate Law 44 2019.05.09 86
282 Real Estate Law 43 2019.05.09 97
281 Real Estate Law 42 2019.05.09 90
280 Real Estate Law 41 2019.05.09 102
279 Real Estate Law 40 2019.05.09 104
278 Real Estate Law 39 2019.05.08 151
277 Real Estate Law 38 2019.05.08 109
276 Quiz 6 2019.05.08 7649
275 Real Estate Law 37 2019.05.08 95
274 Real Estate Law 36 2019.05.08 96
273 Real Estate Law 35 2019.05.08 109
272 Real Estate Law 34 2019.05.08 96
271 Real Estate Law 33 2019.05.08 96
270 Real Estate Law 32 2019.05.08 130
269 Real Estate Law 31 2019.05.08 301
» Performance and Forbearance / Default and Breach 2019.05.08 141
267 Real Estate Law 30 2019.05.07 97
266 Quiz 5 2019.05.07 9033
265 Real Estate Law 29 2019.05.07 170
264 Real Estate Law 28 2019.05.07 84
263 Real Estate Law 27 2019.05.07 78
262 Real Estate Law 26 2019.05.07 86