| A | B |
|---|
| assignment | a transfer of a right a party may have under a contract to another |
| Obligor | the one who owes a duty under a contract |
| performance | the fulfillment of contractual promises as agreed |
| Discharge of a contract | termination of duties that ordinarily occurs when the parties perform as promised |
| Breach of contract | failure to provide complete performance |
| Substantial performance | when just about all the duties are performed, but a minor duty under the contract remains |
| Default | failure to perform |
| Anticipatory breach | when one party notifies the other party prior to the time of performance that he or she will not perform |
| Alteration | material change in the terms of a written contract without consent of the other party |
| Tender | a ready, willing, and able offer to perform an obligation |
| remedy | the action or procedure followed to enforce a right or to get damages for an injury to a right |
| Compensatory damages | seeks to place injured parties in the same position they would have been in if there had been no breach |
| Consequential damages | grant of money damages for the forseeable injuries caused by the breach |
| Punitive damages | purpose of these damages is to punish and to make an example of the defendant |
| liquidated damages | when the parties agree that a certain amount of money will be paid if a certain breach occurs |
| Nominal damages | damages awarded when no substantial harm has been done but a token amount is awarded to acknowledge a wrong has been committed |
| Specific performance | A court ordering the the breaching party to do exactly what was required under the contract |
| Mitigation of damages | A party injured by a breach is required by law to take reasonable steps to minimize the harm done |
| Waiver | to intentionally and explicitly give up a contractual right |
| Statute of limitations | Statutes in all states denying any remedy if suit is not brought within a certain time after a legal claim arises |
| Marital consoritum | the marital duties of the wife and husband |
| prenuptial agreement | an agreement in which the martial partners-to-be typically give up any future claim they might have to part or all of the other's property |
| annulment | a court order that cancels a marriage because of a problem that existed from the beginning of the marriage |
