lecture 17 Flashcards

1
Q
  1. Also known as “Determination” of
    contract.
  2. Means untimely conclusion of the
    contractual agreement before full
    discharge of contractual responsibilities
    by one of the parties.
  3. Is different from Breach of contract,
    though it might result from such breach.
  4. Has different reasons, each resulting in a
    different course of action.
A

Termination of contract

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2
Q
  1. Granted to either party (Owner or GC) if other
    party defaults on delivering their responsibilities
    under the contract.
  2. Allows the injured party to seek damages.
  3. Breach or default must be substantial, or
    “material” to justify termination.
A

Termination for default

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3
Q
  1. Granted only to the owner.
  2. Secures proper and suitable compensation for
    the contractor.
  3. Can also be a mutual convenience between
    owner and contractor (In this case called
    “Mutual Renunciation”)
A

Termination for convenience

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4
Q
  1. Also known as Frustration of Object.
  2. Could result from:
  3. Practical impossibility.
  4. Subjective impossibility
  5. Objective impossibility
  6. Or Supervening illegality (Laws or regulations
    rendering it impossible)
A

Termination for Frustration of Purpose:

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