Asked by nikki scalera on May 09, 2024
Verified
The substantial performance standard is more lenient than the strict performance standard of judicial contract legal interpretation.
Substantial Performance
Substantial performance refers to a situation where a party has fulfilled enough of their contractual obligations to warrant payment, even if minor elements are still uncompleted.
Strict Performance
A legal concept that requires parties to completely fulfill the obligations of a contract without deviation.
- Acknowledge the criteria related to the execution of performance norms in agreements.
- Acquire knowledge on the idea of substantial performance and its practical use.
Verified Answer
RP
Rabindra PatraMay 14, 2024
Final Answer :
True
Explanation :
The strict performance standard of contract law requires virtually perfect compliance with contractual terms,while substantial performance is a somewhat lower standard of performance.
Learning Objectives
- Acknowledge the criteria related to the execution of performance norms in agreements.
- Acquire knowledge on the idea of substantial performance and its practical use.