ch 4 key terms

breach of anticipatory repudiation

• breach that occurs when one of contracting parties makes known to other that contract will not be performed

• can be expressly or implied

• notice itself is the breach

• insufficient to state difficulties in performance

course of dealing

• sequence of conduct between parties associated with repeated performances under prior contracts

• used by court to clarify ambiguous terms

course of performance

• sequence of conduct between parties associated with repeated performances under this contract

• repeated performance and silent acceptance in execution of contract

• clarifies ambiguous terms, fills contract gaps, and understands what parties actually intended

custom

• practices or methods of dealing that exist in a community or industry that are considered the norm

• industry standards as legally binding parts of agreement

duty

• obligation the promisor owes to the promisee that exists after the contract is formed

integration

• the final writing that incorporates some or all of the contract terms

parol terms

• oral or written terms that aren’t in the final writing

parol evidence rule

• rule that applies when contract is integrated so parol terms not in the integration and which either contradict terms in final writing or are inconsistent with final writing are excluded from being in contract

• rule for substantive law, not evidence

• stops parties from introducing extrinsic evidence made prior to or contemporaneous with final writing

right

• what a promisee has as a result of the promisor’s contractual promise