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What is deductive reasoning?
Substantial Performance Standard
A legal principle that if a party has largely fulfilled its obligations under a contract, with only minor breaches, it is entitled to payment, minus damages for the breaches.
Reasonable Person Standard
A legal standard used to determine how an average person would responsibly act in certain situations, applying an objective perspective.
Express Condition
A clearly stated, specific condition in a contract that must be met for the performance of the contract to be required or for a party to fulfill its obligations.
Implied Condition
A legal term referring to a term or condition not expressly stated in a contract but assumed to be included by necessity or by the nature of the agreement.
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