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2. Demand letter - Wikipedia

   en.wikipedia.org/wiki/Demand_letter

   Demand letter. A demand letter, letter of demand, [1] (of payment), or letter before claim, [2] is a letter stating a legal claim (usually drafted by a lawyer) which makes a demand for restitution or performance of some obligation, owing to the recipients' alleged breach of contract, or for a legal wrong. Although demand letters are not legally ...

3. Rescission (contract law) - Wikipedia

   en.wikipedia.org/wiki/Rescission_(contract_law)

   t. e. In contract law, rescission is an equitable remedy which allows a contractual party to cancel the contract. Parties may rescind if they are the victims of a vitiating factor, such as misrepresentation, mistake, duress, or undue influence. [1] Rescission is the unwinding of a transaction.

4. Anticipatory repudiation - Wikipedia

   en.wikipedia.org/wiki/Anticipatory_repudiation

   Anticipatory repudiation or anticipatory breach is a concept in the law of contracts which describes words or conduct by a contracting party that evinces an intention not to perform or not to be bound by provisions of the agreement that require performance in the future. [1] [2]

5. Breach of contract - Wikipedia

   en.wikipedia.org/wiki/Breach_of_contract

   t. e. Breach of contract is a legal cause of action and a type of civil wrong, in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other party's performance. Breach occurs when a party to a contract fails to fulfill its obligation (s ...

6. Hadley v Baxendale - Wikipedia

   en.wikipedia.org/wiki/Hadley_v_Baxendale

   Hadley & Anor v Baxendale & Ors [1854] EWHC J70 is a leading English contract law case. It sets the leading rule to determine consequential damages from a breach of contract: a breaching party is liable for all losses that the contracting parties should have foreseen. However, if the other party has special knowledge that the party-in-breach ...

7. Letter of credit - Wikipedia

   en.wikipedia.org/wiki/Letter_of_credit

   That is to say, a letter of credit is a payment method used to discharge the legal obligations for payment from the buyer to the seller, by having a bank pay the seller directly. Thus, the seller relies on the credit risk of the bank, rather than the buyer, to receive payment.