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| stipulation or prerequisite in a contract, will, or other instrument. |
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| event that if unsatisfied would mean that no rights would arise under a contract |
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| event whose occurrence or lack thereof terminates a contract |
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| goods have arrived, are available for pickup and buyer is notified |
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| equitable rule that if a good faith attempt to perform does not precisely meet the terms of the agreement, the agreement will still be considered complete if the essential purpose of the contract is accomplished |
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| action of one party to a contract to set the contract aside when the other party is guilty of a breach of the contract |
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| substitution of a new contract between the same parties |
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| agreement to substitute for an existing debt some alternative form of discharging that debt, coupled with the actual discharge of the debt by the substituted performance |
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| release or relinquishment of a known right or objection |
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| attaching certain consequences to certain facts because of legal principles that operate automatically as contrasted with consequences that arise because of the voluntary action of a party designed to create those consequences |
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| procedure by which one unable to pay debts may surrender all assets in excess of any exemption claim to the court for administration and distribution to creditors, and the debtor is given a discharge that releases him from the unpaid balance due on most debts |
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Term
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Definition
| statute that restricts the period of time within which an action may be brought |
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