What is Impossibility of Performance?
March 29, 2019Impossibility of performance occurs when the contractual duties of one or more parties cannot be fulfilled due to circumstances out of their control. It is a defense to a breach of contract claim. Sometimes unforeseen or unexpected events make it impossible to fulfill the terms of the contract. Some typical example…
DetailsWhat are the Elements of a Binding Contract in Arizona?
January 9, 2019While contracts need not be in writing to be binding, there are three elements that must be a part of any agreement—written or oral—to be considered binding and enforceable in Arizona. Offer One party creates an offer by proposing—either in writing, verbally, or sometimes mere actions—an exchange of somethi…
DetailsWhat is the Economic Loss Rule in Arizona?
September 24, 2018The economic loss rule exists in contract law to provide for the recovery of damages by a party that has suffered an economic loss — as opposed to tort law that provides a basis for recovering for property damage or personal injury. How the economic loss rule is applied varies from state to state and [&hellip…
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