Presentation on theme: "Breach in Contract. Rights A party may generally assign rights under a contract as long as the performance will not be materially changed. One is not."— Presentation transcript:
Breach in Contract
Rights A party may generally assign rights under a contract as long as the performance will not be materially changed. One is not released from contractual duties by making as assignment of them.
Duties Duties may not be delegated when they involve personal judgment or skill, as with artists and professional experts.
Assignee An assignee acquires only such rights as the assignor has under the contract.
Material Breach A material breach of contract generally permits the other party to regard his or her obligation to perform as discharged.
Obligation An obligation calling for an act, except that of paying money, is discharged by a tender of performance.
Injured Party In case of a breach of contract, the injured party has various remedies. An injured party may rescind or cancel the contract, recover the amount of loss through damages, and in certain cases, require specific performance or obtain an injunction.
Punishment/Award The courts will not punish even an intentional breach of contract by awarding punitive damages unless an intentional tort or crime is involved. Rather, the court will award compensatory damages, possibly including special consequential damages. Sometimes the court will award either liquidated or nominal damages.
Remedy of Damages When the legal remedy of damages is not adequate, the court may grant the equitable remedy of specific performance, or of rescission, or it may grant an injunction prohibiting specified acts.
Remedy for Breach of Contract A remedy for breach of contract may be barred by the lapse of the time prescribed by a statue of limitations or by the debtors discharge in bankruptcy.