Substantial performance occurs when a party fulfills its contractual duties without any uncured _______________ failure.
Whether a failure is considered ______________ depends on several factors:
(1) How much the injured party is deprived of the _________ benefit;
(2) Whether the injured party can be sufficiently compensated for the loss;
(3) The _______ of __________ the other party faces due to non-performance; (Will anyone have to reverse work that was completed)
(4) The probability that the failing party will _________ their breach;
(5) Whether the failing party’s conduct aligns with standards of good faith and fair dealing.
Substantial performance occurs when a party fulfills its contractual duties without any uncured material failure.
Whether a failure is considered material depends on several factors:
(1) How much the injured party is deprived of the expected benefit;
(2) Whether the injured party can be sufficiently compensated for the loss;
(3) The extent of forfeiture the other party faces due to non-performance; (Will anyone have to reverse work that was completed)
(4) The probability that the failing party will remedy their breach;
(5) Whether the failing party’s conduct aligns with standards of good faith and fair dealing.
When a contract is made to perform work and there is no agreement on payment, the work must be _____________ performed before any payment can be demanded.
SUBSTANTIAL PERFORMANCE
When a contract is made to perform work and there is no agreement on payment, the work must be substantially performed before any payment can be demanded.
A contract is ___________ if the parts of the performance can be split into ___________ pairs, where each pair is treated by a court as if the parties ___________ they were___________.
A contract is divisible if the parts of the performance can be split into matching pairs, where each pair is treated by a court as if the parties agreed they were equal.
