What Benefits May Result from Use of a Just-In-Time System

question 141

Essay

What benefits may result from use of a just-in-time system?

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Definitions:

Substantial Performance

Substantial performance is a legal principle indicating that if a party has performed enough of its contract obligations, it can demand payment or compensation, minus deductions for unfinished or incorrect work.

Breach of Contract

A breach of contract occurs when one party fails to fulfill its obligations under the contract, thereby violating the agreement.

Punitive Damages

Monetary compensation awarded to an aggrieved party that goes beyond what is necessary to compensate for losses, intended to punish the wrongdoer.

Compensatory Damages

Monetary damages awarded to a plaintiff to compensate for actual loss or injury.