bmgt380 final study guide Questions And Answers Already Graded A+
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Course
Bmgt380
Institution
Bmgt380
injunction (equitable remedy) - ️️-when a court orders someone to do something or
to stop doing something. This can be invoked even when a breach has merely been
threated and it has not yet occurred. Or it can be ordered or issues after breach has
occurred.
-Only available when the breach i...
bmgt380 final study guide
injunction (equitable remedy) - ✔️✔️-when a court orders someone to do something or
to stop doing something. This can be invoked even when a breach has merely been
threated and it has not yet occurred. Or it can be ordered or issues after breach has
occurred.
-Only available when the breach is likely to cause irreparable injury
-Only available when the breach or threat of breach is likely to cause irreparable harm
what does it mean when contractual obligations are unconditional? - ✔️✔️you have to
perform no matter what
condition precedent - ✔️✔️-when a future uncertain event creates duty to perform.
-if that future uncertain event does not occur, when their duty to perform does not arise
-ex: "I promise to give you my umbrella if it rains tomorrow"
condition subsequent - ✔️✔️-when a future uncertain event discharges the duty to
perform
-ex:· Ex: if I say to my child, "I promise to give you 500 dollars a month. But if you fail
out of college, my duty to pay stops.
(opposite of precedent)
expressed conditions - ✔️✔️-where the contract spells out the condition explicitly. The
conditions HAVE to be met in order to give rise to the duty to perform.
-courts are very strict about requiring compliance-held to strict performance standard
implied conditions - ✔️✔️-not expressly stated in the contract but they are implied
given the facts and circumstances.
ex: If I say " I promise to hep you unpack the uhaul that you will drive to your
apartment." It is obvious and implied that you driving the uhaul to your apartment is an
implied condition of my duty to unpack it. If you do not drive your uhaul to your new
apartment, I have no obligation to help you unpack it.
, what are the conditions that may attach to performances - ✔️✔️1. condition precedent
2. condition subsequent
3. expressed conditions
4. implied conditions
when can conditions be excused? - ✔️✔️1. if the party benefitted by the condition has
prevented it or hindered it from happening.
2. waiver: when a person voluntarily gives up their right to the condition occurring.
3.estoppel: When you have relied on my waiver/representation that 7 days notice is
enough, I am estopped from asserting the condition
4. impossibility:When performance of the condition becomes impossible
how to determine what level of performance is required by parties - ✔️✔️Parties in a
contract will always be held either to a strict performance standard or a substantial
performance standard
strict performance standard - ✔️✔️-you have to perfectly comply to terms of contract.
There is no room for mistake.
Examples:
-paying certain amount of money -performing by certain deadline -delivering specific
goods
substantial performance standard - ✔️✔️-requires less perfrection.
-applies to duties that are somewhat hard to perform without some deviation from
perfection
ex:leaf blowing/grass cutting
what is good faith performance (aka implied covenant of good faith and fair dealing) -
✔️✔️-requires parties to cover out a contract in good faith
-required by law
-broad and flexible
what are the 2 types of breaches? - ✔️✔️1. material
2.nonmaterial
what is a material breach - ✔️✔️-occurs when the applicable performance standard
has not been met.
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