Final Law Chapter

Question 1

Conditions Precedent

Answer 1

A condition that must be fulfilled before a parties performance can be required

Question 2

Discharge

Answer 2

Termination of a contract

Question 3

What are 2 types of impossibility?

Answer 3

Objective

Subjective

Question 4

Conditions concurrent

Answer 4

When each parties performance is conditioned on the other parties performance

Question 5

Novation

Answer 5

The substitution of a third party for one of the original parties

Question 6

Subjective Impossibility

Answer 6

Someone not wanting to do it

Question 7

Conditions Subsequent

Answer 7

A condition operates to end a parties absolute promise to perform

Question 8

Objective Impossibility

Answer 8

When something cannot be done

Question 9

What are the 2 types of performance?

Answer 9

Complete

Substantial

Question 10

Material Breach

Answer 10

Performance is not substantially performed or performed at all