Question

what is the difference between "Usage of Trade", "Course of Performance" and "Course of Dealing"?

Answer 1

Usages of trade- It is a method or practice of dealing, which has such regularity of observance in a place, trade as to justify the expectations, how the observance will be with respect to the transaction in question.
An example could be: The court can decide whether the course of performance is consistent with the contract for sales or lease of goods.

Course of performance- it is a sequence of actions or conduct between the parties and it is related to a particular transaction. Transactions exist if there are repeated occasions mentioned in the agreement when a party needs to perform the conduct, and the other party is aware of the performance and he is also aware of the opportunities of objection available to him, accepts the performance of the first party.
An example could be: sometimes the act of any party may be inconsistent and can say that the express terms of the contract should predominate over any such inconsistency.

Course of dealing- It is also a sequence of conduct but not to the current transaction, rather it is concerning to the previous transaction and it gives a base to refer for any common understanding, interpretation of expression or conduct for present transaction.
An example could be: To interpret some ambiguous or unequivocal expressed terms of the contract and prior interpretation from the previous transaction can be sought.