Business Law Ch17 Part I

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When a contract party alters a written contract, the other party must adapt his or her performance accordingly.

A contract is discharged when a change in the law renders the performance illegal.

A party who substantially performs his or her duties under a con¬tract can enforce the contract against the other party.

Express conditions are provided for by the parties’ agreement.

A contract comes to an end when both parties fulfill their respective duties by performing the acts they have promised.

A breach of contract occurs only when a party fails to perform all of his or her duties under a contract.

A discharge in bankruptcy will ordinarily bar enforcement of most of a debtor’s contracts by creditors.

If no time for performance is stated in a contract, any time is acceptable.