n. in the law of contracts, fulfillment of the obligations agreed to in a contract, with only slight variances from the exact terms and/or unimportant omissions or minor defects. A simple test is whether the omission, variance or defect can be easily compensated for with money. Examples: a) the contract is for supplying 144 pumps for $14,400, and o...
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At common law, substantial performance is an alternative principle to the perfect tender rule. It allows a court to imply a term that allows a partial or substantially similar performance to stand in for the performance specified in the contract. This principle is relevant when a contractor`s performance is in some way deficient, through no willf....
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http://en.wikipedia.org/wiki/Substantial_performance
(n) In a contract when the party involved fulfills all the major obligations which comprises the essence of the contract, such fulfillment of obligation is termed as substantial performance. It exhibits the keenness of the parties involved to fulfill he contractual obligation. For example the party supplies 99% within the stipulated date and transp...
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http://www.encyclo.co.uk/local/21213
means that degree of performance of a contract which, while not equal to full and complete performance, is so nearly equivalent that it would be unreasonable to deny the contractor the payment agreed upon in the contract, subject, of course, to the owner's right to recover whatever damages he has suffered by reason of the contractor's failure to re...
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http://www.lectlaw.com/def2/s093.htm
When a party to a contract, through no fault of that party, performs in a manner that varies slightly from the contract's obligations. In cases of substantial performance, a court may determine that it would be unfair to deny compensation. (See also: specific performance)
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http://www.nolo.com/dictionary/substantial-performance-term.html
No exact match found.
