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Celtech were, however, in material breach of the contract and the contractual right to terminate could therefore be exercised by Dalkia. [16] Gallaher International Ltd v Tlias Enterprises (2008) [22] Crosstown Music Company v Rive Droite Music Ltd (2009), also making the point that a "material" breach was more significant than a "trivial ...
a default that is deliberate, in the sense that the person committing the relevant act knew that it was a default (i.e. in this case a breach of contract). I consider that it does not extend to recklessness and is therefore narrower than wilful misconduct (although the latter will embrace deliberate default). [1]
The primary remedy for breach of contract is expectation damages, or "benefit of the bargain." At law, this is monetary compensation. At equity, it can be specific performance or an injunction, among other things. For example, Dan and Pam have an enforceable contract for the sale of Dan's watch. The price they agreed to was $10.
In contract law, a severable contract (or "divisible contract") is a contract that is composed of several separate contracts concluded between the same parties, such that failing one part of such a 'severable' contract does not breach the whole contract. Therefore, the other party must still honor the other subparts and cannot cancel the whole ...
A mutual mistake occurs when the parties to a contract are both mistaken about the same material fact within their contract. They are at cross purposes. There is a meeting of the minds, but the parties are mistaken. Hence the contract is voidable. Collateral mistakes will not afford the right of rescission. A collateral mistake is one that ...
Elon Musk warned Twitter Inc on Monday that he might walk away from his $44 billion deal to acquire the social media company if it fails to provide the data on spam and fake accounts that he seeks.
It is a contract in which both sides still have important performance remaining. However, an obligation to pay money, even if such obligation is material, does not usually make a contract executory. An obligation is material if a breach of contract would result from the failure to satisfy the obligation. [2]
Musk faces a $1 billion fee if he calls off the $44 billion agreement to buy Twitter; a contract breach by Twitter could change that penalty. Myles Udland is the senior markets editor at Yahoo ...