performance


performance
The fulfillment or accomplishment of a promise, contract, or other obligation according to its terms, relieving such person of all further obligation or liability thereunder.
See also execute
- part performance
@ non-performance
Neglect, failure, or refusal to do or perform an act stipulated or contracted to be done. Failure to keep the terms of a contract or covenant, in respect to acts or doings agreed upon. The failure or neglect to render performance called for in a contract, rendering the non-performer liable in damages or subject to a decree or judgment of specific performance.
@ part performance
The doing some portion, yet not the whole, of what either party to a contract has agreed to do.
Part performance of an obligation, either before or after a breach thereof, when expressly accepted by the creditor in writing, in satisfaction, or rendered in pursuance of an agreement in writing for that purpose, though without any new consideration, extinguishes the obligation. As regards the sale of goods, the statute of frauds requirement is dispensed with by partial performance for the goods which have been accepted or for which payment has been made and accepted. U.C.C. No. 2-201(3).
+ part performance
A plaintiff who renders partial performance of a contract relying on the promised performance of the other party may successfully resist the defense of the statute of frauds under certain conditions. In order to establish part performance taking an oral contract for the sale of realty out of the statute of frauds, the acts relied upon as part performance must be of such a character that they can reasonably be naturally accounted for in no other way than that they were performed in pursuance of the contract, and they must be in conformity with its provisions. Camerota v. Wisniewski, 21 Conn.Sup. 88,145 A.2d 139, 141.
See U.C.C. No. 2-201(3).
See also performance
@ specific performance
Specific performance. The remedy of requiring exact performance of a contract in the specific form in which it was made, or according to the precise terms agreed upon. The actual accomplishment of a contract by a party bound to fulfill it. The doctrine of specific performance is that, where money damages would be an inadequate compensation for the breach of an agreement, the contractor or vendor will be compelled to perform specifically what he has agreed to do; e.g. ordered to execute a specific conveyance of land.
See Fed.R. Civil P. 70.
With respect to sale of goods, specific performance may be decreed where the goods are unique or in other proper circumstances. The decree for specific performance may include such terms and conditions as to payment of the price, damages, or other relief as the court may deem just. U.C.C. No.No. 2-711(2Xb), 2-716.
As the exact fulfillment of an agreement is not always practicable, the phrase may mean, in a given case, not literal, but substantial performance
@ performance bond
Surety bond which guarantees that contractor will fully perform contract and guarantees against breach of contract. Isaac v. Reliance Ins. Co., 201 Kan. 288, 440 P.2d 600, 605.
Proceeds of bond are used to complete contract or compensate for loss in the event of nonperformance.
+ performance bond
Type of contract bond which protects against loss due to the inability or refusal of a contractor to perform his contract. Such are normally required on public construction projects.
See also bond
- bid bond
- common law bond
- completion bond
- contract bond
@

Black's law dictionary. . 1990.

Synonyms:

Look at other dictionaries:

  • performance — [ pɛrfɔrmɑ̃s ] n. f. • 1839; mot angl. , de l a. fr. parformance (XVIe), de parformer « accomplir, exécuter » 1 ♦ Résultat chiffré obtenu dans une compétition (par un cheval, un athlète). Les performances d un champion. Performance homologuée.… …   Encyclopédie Universelle

  • performance — per·for·mance n 1: work done in employment unsatisfactory performance 2 a: what is required to be performed in fulfillment of a contract, promise, or obligation substituted a new performance in novation of the contract b: the fulfillment of a… …   Law dictionary

  • Performance — Saltar a navegación, búsqueda Mimo y Pintura …   Wikipedia Español

  • performance — per‧form‧ance [pəˈfɔːməns ǁ pərˈfɔːr ] noun 1. [countable, uncountable] FINANCE the degree to which a company, investment, financial market etc is profitable: • The company is showing strong performance and doing considerably better than the… …   Financial and business terms

  • Performance — [pə fɔ:məns] (englisch für ‚Durchführung‘, ‚Aufführung‘, ‚Darstellung‘, ‚Leistung‘) bezeichnet: Performance (Kunst), eine Form der Aktionskunst Leistung (Informatik), das Zeitverhalten von Programmen (Software) und Geräten (Hardware) in der… …   Deutsch Wikipedia

  • performance — Voz inglesa usada con frecuencia en español, especialmente en los países de América del Sur. Es anglicismo evitable, pues en todos los casos pueden encontrarse términos españoles de sentido equivalente: a) Cuando significa ‘resultado obtenido en… …   Diccionario panhispánico de dudas

  • Performance — Per*form ance, n. The act of performing; the carrying into execution or action; execution; achievement; accomplishment; representation by action; as, the performance of an undertaking of a duty. [1913 Webster] Promises are not binding where the… …   The Collaborative International Dictionary of English

  • performance — [n1] accomplishment achievement, act, administration, attainment, carrying out, completion, conduct, consummation, discharge, doing, enforcement, execution, exploit, feat, fruition, fulfillment, pursuance, realization, work; concept 706 Ant.… …   New thesaurus

  • performance — 1530s, carrying out of a promise, duty, etc., from PERFORM (Cf. perform) + ANCE (Cf. ance). Meaning a thing performed is from 1590s; that of action of performing a play, etc. is from 1610s; that of a public entertainment is from 1709. Performance …   Etymology dictionary

  • performance — /pə fɔ:məns/, it. /per formans/ s. ingl. [der. di (to ) perform compiere, eseguire ], usato in ital. al femm., invar. 1. a. [resa in una competizione, in una gara, anche non sportiva: una p. di rilievo ] ▶◀ prestazione, prova, risultato,… …   Enciclopedia Italiana

  • Performance —    Drame de Nicholas Roeg et Donald Cammell, avec James Fox, Mick Jagger, Anita Pallenberg, Michèle Breton.   Pays: Grande Bretagne   Date de sortie: 1970   Technique: couleurs   Durée: 1 h 45    Résumé    Un truand en cavale se réfugie chez une… …   Dictionnaire mondial des Films