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Business Law Today 9
Chapter 9
Question | Answer |
---|---|
Alienation | The process of transferring land out of one's possession. |
Anticipatory Repudiation | An assertion or action by a party indicating that he or she will not perform an obligation that the party is contractually obligated to perform at a future time. |
Assignee | A party to whom the rights under a contract are transferred, or assigned. |
Assignment | The act of transferring to another all or part of one's rights arising under a contract. |
Assignor | A party who transfers his or her rights under a contract to another party. |
Breach Of Contract | The failure, without legal excuse, of a promisor to perform the obligations of a contract. |
Commercial Impracticability | Doctrine under which a seller may be excued from performing a contract when (1 a contingency occurs,(2 the contingency's occurance makes performance impracticable, and (3 nonoccurance of the contingency was basic assumption non which the contract was made |