nonperformance
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nonperformance
Barron's Business Dictionary:
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nonperformance
Failure to do something that one was legally bound to do. The nonperforming party is liable for damages or action requiring a specific performance.
| Nonparametric Statistics, Nonoperating Expense (Revenue), Nonmonetary Item | |
| Nonperforming Asset, Nonproductive, Nonprofit Accounting |
Barron's Law Dictionary:
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nonperformance
The failure to fulfill an obligation. The nonperformance must be material and substantial to justify suspension of another’s return performance. See performance. See also consideration [failure of consideration].
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Barron's Business Dictionary
Dictionary of Business Terms. Copyright © 2007 by Barron's Educational Series, Inc. All rights reserved.
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