Presentation on DISCHARGE OF CONTRACT

By Sunil

DISCHARGE OF CONTRACT
Discharge of contract means termination of the contractual relationship between the parties. A contract may be discharged in of the following way. 1. By Performance: Actual or attempted.(Sec.37,38) 2. By Mutual Consent or Agreement: 3. By Subsequent or Supervening Impossibility:(S56) 4. By Lapse of Time: 5. By Operation of Law: 6. By Breach of Contract (s.39)

1.BY PERFORMANCE:
Actual Performance Attempted Performance.

2.BY AGREEMENT OR CONSENT:

By Express Consent. By Implied Consent: It can happen by Novation, Recession (cancellation of contract Alteration, Remission, Waiver and Merger.

3. BY IMPOSSIBILITY OF PERFORMANCE:
Death or Incapacity for Personal Services Change of Law. Outbreak of war.

4.BY LAPSE OF TIME :

A contract should be performed within a specified period( Period of limitation) otherwise it can be cancelled.

5. BY OPERATION OF LAW :

By Death Merger Insolvency Un Authorized Alteration of terms of

6. BY BREACH OF CONTRACT:
A. Actual Breach : At the time of Performance. During the Performance. B. Anticipatory Breach : By an act of promissory making( implied repudiation) By Renunciation of the obligation ( Express Repudiation).