Performance (Contract)

Definition: Carrying out the acts or promises required by a contract.

Example

A seller delivers the required deed and a buyer provides the agreed funds at closing.

Keep the distinction clear

A contract can also end through agreement, rescission, breach remedies, or other legal events. Full performance is one way to discharge obligations, not the only way a contract can end.

Related terms

Executed Contract · Executory Contract · Specific Performance

Keep studying

Valid, Void, Voidable, and Unenforceable Contracts

References: California DRE: real estate glossary

Pronunciation (US): per-FOR-muns (capitals show stress)

Pronunciation reference: Merriam-Webster