Question

In: Other

Discharge of Contract

What is Discharge of Contract and Explain its type "By Performance"

Solutions

Expert Solution

Discharge of Contract:

Discharge of Contract means termination of the contractual relationship between the parties. A contract is said to be discharged when it ceases to operate, i-e when the rights and obligations created by it come to an end

Types:

  • By Performance
  • By Mutual Consent
  • Supervening
  • By Operation of Law
  • Subsequent Illegality
  • Breach of contract

 

By Performance - Performance means the doing of that which is required by a contract. Discharge by performance takes place when the parties to the contract fulfill their obligations arising under the contract within the time and in the manner prescribed. In such a case, the parties are discharged and the contract comes to an end. But if only one party performs the promise, he alone is discharged. Such a party gets a right of action against the other party who is guilty of a breach.


Types:

Actual and Attempted performance

 

 


Discharge of Contract:

Discharge of Contract means termination of the contractual relationship between the parties. A contract is said to be discharged when it ceases to operate, i-e when the rights and obligations created by it come to an end

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