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Performance of Contracts

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Chapter Summary

Contract performance concerns the accomplishment of legal duties or obligations that become due as agreed upon by the parties under the contract. This chapter reviews the principles that govern the performance of contract. As in civil law, the Contract Law has a clear emphasis on the principle of compete and adequate performance because performance is what the contract is all about in terms of realizing the goal for which the parties have bargained. Closely related to the complete and adequate performance is the principle of good faith performance. The right of defense to non-performance of contract is a civil law concept that is designed to protect obligor from being harmed by the abuse of right of the obligee. In addition to the rights of subrogation and cancellation, the parties may set forth through agreement a guarantee to ensure the performance of the contract.

Keywords: adequate performance; compete performance; contract law; contract performance; good faith performance

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