| A | B |
|---|
| breach of contract | failure to provide complete performance of a contract |
| substitution | act of replacing a present contract with a new contract |
| legal tender | payment of money in currency or coins |
| assignee | party who receives transferred contractual rights |
| obligor | person who owes a duty under a contrac |
| accord | agreement to change the obligation of an original contract |
| cancellation | one party commits a major breach and the other party’s obligation is discharged |
| novation | act of releasing one party by accepting the performance of a substitute par |
| assignment | transfer of a contractual right |
| anticipatory breach | contract situation where one party notifies the other that he or she will not perform |
| performance | fulfillment of contractual promises |
| satisfaction | performance of a new obligation |
| substantial performance | contract situation involving the performance of all duties but one minor duty |
| death or disability | 2 conditions that terminate a contract requiring personal services |
| discharge | termination of duties that ordinarily occurs when the parties performed as promised |
