Business Law Ch17 Part I

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Anticipatory repudiation discharges a contract.

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

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

Express conditions are provided for by the parties’ agreement.

Any breach allows the nonbreaching party to sue for damages.

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

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

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