Anticipatory repudiation is when one party to a contract sues the counterparty on grounds that the counterparty has made it clear that it intends to break the contract. To anticipate means to expect that something will happen. To repudiate means to reject. So in an anticipatory repudiation claim the plaintiff alleges that the defendant has…
There is no single definition of good faith but it generally means honesty and without fraudulent intention. For example, under state laws, parties to a contract are expected to treat each other in good faith regardless of whether the contract specifies a duty of good faith. That is, one party cannot deceive another party or…
Specific performance is a type of relief that a party seeks in an action for breach of contract. If a court grants specific performance it will compel the breaching party to perform under the contract. For example, if defendant agrees to sell land in a contract and plaintiff sues for specific performance, the plaintiff wants…
An offeror is the party making an offer to form a contract. The offeree, the counter-party, has the power the accept the offer and form a contract.
When an offeror revokes an offer, he “takes back” an offer, or withdraws the offer. That is, the offeror tells the offeree that his offer is no longer in effect and the offeree has lost the power to accept the offer.
