Simple English definitions for legal terms
Read a random definition: Securities dispute resolution: Prehearing
Perform: To do what you promised to do in a contract. When two people make a deal, they both have to do what they said they would do. If one person doesn't do their part, it's called a breach of contract. The other person can ask for money to make up for what they lost, or they can ask a court to make the person do what they promised. This is called specific performance.
Definition: To perform is to fulfill the obligations of a contract. When two parties enter into a contract, they each make promises to each other. To complete the contract, both parties must perform their obligations. If one party fails to perform, it is considered a breach of contract and legal action may be taken.
Example: John hires a contractor to build a deck on his house. The contractor promises to complete the deck within three weeks in exchange for payment. If the contractor completes the deck within the agreed-upon timeframe, they have performed their obligation. If they fail to complete the deck or do a poor job, it is considered a breach of contract.
Explanation: In this example, the contractor has a contractual obligation to build the deck within three weeks. If they do not complete the deck or do a poor job, they have not performed their obligation. This would be considered a breach of contract, and John could take legal action to seek compensation or require the contractor to complete the deck as promised.