Substantial Performance Legal Meaning and Definition

Here is a simplified definition of the legal term Substantial Performance.

Substantial Performance (noun): This is a term associated with contracts. Substantial Performance is when the primary, most significant obligations of a contract are fulfilled by a participating party. This shows the party's earnestness in meeting their contractual obligations. For example, if an obligation under a contract requires the supply of 100% of some items by a specific date, fulfilling 99% of the supply within the stipulated period and delivering the remaining 1% before the due date would be considered Substantial Performance.