List the Two Main Categories of Problems

question 6

Essay

List the two main categories of problems. What approach is followed in solving these problems?

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Definitions:

Performance

The act of fulfilling the duties or obligations specified in a contract or agreement.

Oral Modifications

Changes to a contract or agreement made through spoken communication between the parties involved, rather than in written form.

Parol Evidence Rule

A rule in contracts law that prevents parties from presenting extrinsic evidence of terms of the contract that contradict, modify, or vary contractual terms written in the contract document.

Oral Evidence

Testimony or statements spoken out loud in court as opposed to written evidence.