Losses which may be recovered under a contract include Anything which the injured party claims is related to the breach of the contract Those which may reasonably be contemplated as flowing from the breach and those to which specific attention has been drawn Those which are not foreseeable at the time the contract is entered Only those which are brought to the attention of the parties at the time the contract is entered All of these The doctrine of substantial performance Entitles a party to cancel a contract regardless of the amount of performance which has occurred Allows parties to claim for full contractual damages regardless of the degree of completion Requires action to be taken on a contract which has been substantially performed to recover for the full contract damages Prevents a party from taking advantage of another where a contract has been substantially performed None of these A fundamental breach of contract Occurs where the performance by one party is so far below that required by the terms of the contract it no longer resembles the bargain which was reached Permits an injured party to be exonerated from performance Requires an injured party to discontinue with the contract and sue for damages All of these Frustration of contract Occurs when a contract cannot be performed for the price anticipated Occurs where a contract is rendered impossible due to circumstances not contemplated by the parties at the time the agreement was entered Occurs where one of the parties is unable to perform the terms of the contract due to their own negligence Occurs where the parties have not provided for the occurrence of an event in their contract Force majeure (i.e., a major unforeseen event) may include War Insurrection Natural disaster O All of these Privity of Contract Means that only persons who are parties to a contract may sue or be sued on the contract Means that parties must specifically denote their responsibilities in a contract Means that persons named in a contract can be bound by the contract Means that contracts must be in writing to be enforceable