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Is it contract's duration or contracts's duration?
contract's duration
Why use Completed Contract Method?
The principal advantage of the completed-contract method is that
What are characteristics of a simple contract?
list the characteristics of a simple contract
Who pays the property tax if sold on contract?
I believe that could go either way and should be part of the contract.
What are the advantages and disadvantages of open book contract terms?
Open book contract terms are fully disclosed and above board. The disadvantage to this might be the unscrupulous person who looks for such an open contract to take advantage of.
What is theDifference between breach of contract and discharge of a contract?
breach is a form of discharge. Generally, a discharge is when a contract ends for any reason. A breach is when one of the parties does not perform under the contract. Breach could lead to discharge, rescission, or damages, or nothing.
What is contract discharge by mutual consent?
When both parties under a contract agree to end the contract.
What do you mean by dicharge of contract?
Discharge of contract is a document saying you have met all your obligations under an agreement. This is common with a car title when the finance company sends you a discharge saying you have paid for it all.
Why a party can be permit to discharge from a contract under the substantial performance?
Because there was a deficit in the way they performed under the contract
What is the difference between breach of contract and discharge of contract?
Discharged mean terminated. A contract can be discharged by -performance -frustration -Agreement between the parties and -breach If there is a breach of terms of the contract, a contract can be discharged.
What is the discharge of contracts?
When neither party has an obligation under a contract anymore
A minor breach of contract discharges a contract?
The innocent party usually has the option to decide whether they would like to continue with the contract or discharge it and go for damages
What does mean novation agreement?
an agreement to discharge a contract and replace it with a new one
What are two ways that a contract may be discharge by operation of law?
frustration, bankruptcy
What would be a real estate example of discharge from contract by agreement?
If both parties agree that they do not want to pursue the contract for the purchase and sale of real estate they can mutually agree to void the contract.
What are the reasons for discharge of contract?
if all obligations under the contract are completed. If an operation of law causes it to end. If the parties mutually agree to end it. If there is a breach
What is Discharge of Contracts?
A contract is discharged when neither party has any obligations under it
