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Simple English definitions for legal terms

performance

Read a random definition: SEC

A quick definition of performance:

Performance in contract law means fulfilling the obligations agreed upon in a contract. For example, if one person promises to pay another person $100 in exchange for painting their house, the act of painting the house is the performance required of the second person. If someone does not fulfill their obligations in a contract, it is called a breach of contract. This can happen if someone does not perform their role at all, performs it poorly, or only does part of it. Sometimes, a court may require the breaching party to fulfill their obligations under the contract, which is called specific performance.

A more thorough explanation:

In contract law, performance refers to the action of completing obligations outlined in a contract. For a contract to be enforceable, there must be consideration, which means that one party promises something in exchange for a performance from the other party.

For example, if Party A promises to pay Party B $100 in exchange for painting their house, the painting of the house is the performance required of Party B. Once Party B completes the painting, they have fulfilled their obligations in the contract.

It's important to note that the completed performance does not have to be perfect, but it must meet the standard of substantial performance. This means that the performance must be completed to a reasonable degree of satisfaction.

If a party fails to adequately perform their role in a contract, it is considered a breach of contract. This can happen if a party does not perform their role at all, performs it with major defects, or only performs a portion of their obligations (partial performance).

For example, if Party B only paints half of Party A's house, this would be considered partial performance. Depending on the specifics of the contract, partial performance may be acceptable, but the compensation under the contract would be altered to reflect the level of performance.

In some cases, a breaching party may be required by a court to fulfill their obligations under a contract if there is no other way to make the situation just. This is called specific performance.

Overall, performance is a crucial aspect of contract law as it ensures that both parties fulfill their obligations and receive the benefits outlined in the contract.

perform | periodic reports

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darthaifos33
14:36
like**
darthaifos33
14:36
and UPenn for that matter! Would be greatly appreciated
yay pookie! congrats!
14:39
omg this guy on the deposition is screamingggg
darthaifos33
14:39
And congrats!!!!!!<3
14:49
like it's crazy
i've heard great things about UVA! I visited upenn and hated it so much / felt so uncomfy there and the starbucks by campus got robbed while i was there waiting for my tour to start lol
darthaifos33
14:59
@OptimisticOutlier That sounds terrible, I'm sorry you had to experience that lol. Can I ask what made you feel uncomfortable? Like the sketchy vibes of the city or like the camp\us itself etc.?
darthaifos33
14:59
campus
penn is in a nice area
right next to drexel
it was campus itself, honestly i can't explain what it actually is. I felt the same way when I was touring schools for undergrad, pretty much pulled up to upenn and told my mom i knew i didn't like it and didn't need to take the tour lol
would argue with the nice area piece lol i think all of philly is kinda scary, someone pulled a gun on my team while we were down for a football game at upenn and walking around at night
but that said, i'm pretty happy i moved to pa after school and i know lots of people love upenn!
dear god is that sketchy
definetly safer than how its being described
people are absolutely crwzy
yeah yeah will 10000% agree i've had like bad outlier experiences lol
u are the optimistic outlier after all
true!
how do i tell my boss im quitting and need to take off on monday (visiting ND on monday to meet with dean and check the vibes, was gonna put in my 2 weeks regardless
16:00
NEED
16:00
i luv being an art hoe snob
amlaw
16:38
believe it or not i didn’t miss any calls
OvertReconditeSpider
18:03
Lol all of philly is a dumpster fire
OvertReconditeSpider
18:03
Yet i am moving there for law school in 14 days lol
manifestmoreadmissions
18:56
@OptimisticOutlier: congratulations!!!
21:14
I live in that area. It isn't bad at all
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