| 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 the 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” |
