This document provides a summary of corporate governance in Chapter 2. It covers the following topics regarding contracts: the definition of contracts, the requirements of valid contracts, the terms of a contract, breached contracts, and the remedies used for breached contracts.
Legal possibility of performance ................................................................................................ 6
Physical possibility of performance ........................................................................................... 7
Compliance with formalities....................................................................................................... 7
Terms and conditions of a contract ........................................................................................... 7
Conditions and time Clauses..................................................................................................... 8
Time clauses ............................................................................................................................. 8
Breach of Contract .................................................................................................................... 8
Remedies for breached contracts .............................................................................................. 9
Cancellation of contracts ........................................................................................................... 9
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