Question: Complete performance occurs when a contract, conditions are fully satisfied. 2. A material breach of contract does not discharge the other party's duty to perform.

 Complete performance occurs when a contract, conditions are fully satisfied. 2.

Complete performance occurs when a contract, conditions are fully satisfied. 2. A material breach of contract does not discharge the other party's duty to perform. 3. An executory contract cannot be rescinded. 4. Damages compensate a nonbreaching party for the loss of the contract or give a nonbreaching party the benefit of the contract. 5. Punitive damages are usually not awarded for a breach of contract. 6. Liquidated damages are uncertain in amount. 7. Consequential damages are awarded for foreseeable losses caused by special circumstances beyond the contract. 8. Specific performance is available only when damages are also an adequate remedy. 9. Objective impossibility discharges a contract

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!