Contracts II


Restatement Second of Contracts § 240
Restatement Second of Contracts § 240

Part Performances as Agreed Equivalents

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If the performances to be exchanged under an exchange of promises can be apportioned into corresponding pairs of part performances so that the parts of each pair are properly regarded as agreed equivalents, a party's performance of his part of such a pair has the same effect on the other's duties to render performance of the agreed equivalent as it would have if only that pair of performances had been promised.

Copyright, The American Law Institute

If the parties treat the items as equal, their values can be treated as equivalent. The values must be in the contract—extrinsic evidence cannot be used.