Performance

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Performance

The fulfillment or accomplishment of a promise, contract, or other obligation according to its terms.

Part performance entails the completion of some portion of what either party to a contract has agreed to do. With respect to the sale of goods, the payment—or receipt and acceptance of goods—makes an oral sales contract, otherwise unenforceable because of the Statute of Frauds, enforceable in regard to goods for which payment has been made and accepted or which have been received and accepted.

Specific Performance is an equitable doctrine that compels a party to execute the agreement according to its terms where monetary damages would be inadequate compensation for the breach of an agreement, as in the case of a sale of land. In regard to the sale of goods, a court orders specific performance only where the goods are unique or in other proper circumstances.

performance

n. fulfillment of one's obligations required by contract. Specific performance of a contract may be demanded in a lawsuit. Partial performance is short of full performance spelled out in the contract, but if the contract provided for a series of acts or deliveries with payment for each of the series, there may be partial recovery for what has been performed or delivered even if there is not full performance. (See: specific performance)

PERFORMANCE. The act of doing something; the thing done is also called a performance; as, Paul is exonerated from the obligation of his contract by its performance.
     2. When it contract has been made by parol, which, under the statute of frauds and perjuries, could not be enforced, because it was not in writing, and the party seeking to avoid it, has received the whole or a part performance of such agreement, he cannot afterwards avoid it; 14 John. 15; S. C. 1 John. Ch. R. 273; and such part performance will enable the other party to prove it aliunde. 1 Pet. C. C. R. 380; 1 Rand. R. 165; 1 Blackf. R. 58; 2 Day, R. 255; 1 Desaus. R. 350; 5 Day, R. 67; 1 Binn. R. 218; 3 Paige, R. 545; 1 John. Ch. R. 131, 146. Vide Specific performance.

References in periodicals archive ?
They were designed to measure the students' understanding of the definitions, applications, performance components, and likely consequences of assertion, aggression, and nonassertion.
JENOPTIK SYIONS provides a variety of partially standardized modules and performance components that can be easily combined to create a complete imaging solution to meet individual customer requirements.
Meggitt PLC, a leading international company specialising in high performance components for the aerospace market, has signed a Long Term Agreement (LTA) with OEMServices to supply component aftermarket support to operators in the Middle East, Africa and Russia/CIS.
performance components include the design, construction, production, delivery, installation and commissioning of the driving simulator as well as the training and briefings of the future operating personnel and the handing over of documents to ensure operational and functional safety.
Development of the concept "raumwerk d" in different phases with the following performance components: - performance component 1: analysis, - service component 2: participation, - power component 3: design, - optional service component 4: advice and support in phase 2.
Trusted for high performance components that set the standard in terms of next-generation technology, AAS Technology is one of the key names within the CCTV component manufacturing field.
The updating and further development are performance components. After the award of the contract, The bidder must familiarize himself with the existing status and update the task description of the planning offices involved on the basis of the commissioned service changes.
The list of M Performance components for exterior trim BMW X5 includes carbon fiber-reinforced plastic frames for the front air intakes, front and rear wing wings, a diffuser and side mirror housings.

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