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performance definition - legal

n

  1. The successful fulfillment of a contractual obligation.
  2. . May be a promise of future payment in exchange for a contractual obligationÂ’s being done.
part performance
Partial fulfillment of obligations under a contract.
performance clause
A distinct section or provision of a legal document or piece of legislation.
specific performance
The requirement of performance of obligations as stated in the terms of an agreement, according to the exact requirements, on theory that compensation in damages would be in- adequate to give recipient of the performance the “benefit of the bargain.”  Generally required in situations of unique services or goods. 

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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