| A | B |
|---|
| Accord and Satisfaction | substitute one contract for another |
| Actual Damages | damages DIRECTLY related to breach |
| Anticipatory Breach | notified that a party to the contract will not fulfill their part of the contract prior to the required time of fulfillment |
| Assignee | party to whom right is transferred |
| Assignment | legally transferring your RIGHTS in a contract |
| Assignor | party who transfers the right |
| Breaching a Contract | wrongful failure to perform one or more promises in a contract |
| Compensatory Damages | award only for injuries suffered - nothing more |
| Complete Performance | all terms have been carried out properly and completely |
| Consequential Damages | damages that DO NOT flow directly from breach |
| Delegation | transfer a duty |
| Incidental Damages | reasonable expenses that arise INDIRECTLY from breach of contract |
| Injunction | court order that prevents a party from performing an act |
| Liquidated Damages | anticipated damages agreed upon prior to contract being signed |
| Mutual Release | each side releases the other side from the contract |
| Nominal Damages | award to prove legal injury but no damages caused |
| Punitive Damages | damages in excess of losses suffered in order to punish party for breach |
| Satisfactory Performance | law requires that services be completed in a satisfactory manner |
| Speculative | damages awarded not on fact but on expectations from contract fulfillment |
| Statute of Limitations | individual states have a time limit on lawsuits to be filed |
| Substantial Performance | slightly less than full performance |
| Tender of Performance | offer to perform |
| Wrongful Alteration | any altering or changing of a contract will discharge parties to the agreement |
