Contract Law
DISCHARGEMENT OF CONTRACT
The law of contracts forms a substantial part of our various relationships that can have some sort of influence over us on an almost daily basis – even when there is no physical contract in front of us we may still be privy to some sort of contractual obligation. Alternatively, if you’re a fan of social theorists such as Jean-Jacques Rousseau, you may argue that we’re also bound by ‘the social contract’, but we digress. Getting back to our original point, the law of contracts plays an enormous role in many of our interactions and for the most part, there may be no real concern in regards to the performance of a contract and an agreement will be completed accordingly. However, this does not mean that issues won’t arise within a contractual relationship, and there may be circumstances where you may need to discharge a contractwhich can be done by either one, or all of the parties to the agreement, and can be discharged by either:
BY PERFORMANCE
BY MUTUAL AGREEMENT
BY SUPERVENING IMPOSSIBILITY
BY OPERATION OF LAW
BY LAPSE OF TIME
BY LAPSE OF TIME BY PERFORMANCE Before exploring the general ways in which a contract can be discharged, the most obvious way in which acontract will come to an end, is when all parties fulfil their contractual obligations and the contract has been discharged via performance. Easy.
Exceptions to performance
Some people may be of the belief that performance of a contract includes the executing of every aspect of the contract of which the parties had agreed upon, and if performance of every part of the agreement has not been fulfilled, then the contract has not been fully performed The common law had subsequently recognised some exceptions to the general rule other than that performance of A contract must be exact and complete
The law of contracts forms a substantial part of our various relationships that can have some sort of influence over us on an almost daily basis – even when there is no physical contract in front of us we may still be privy to some sort of contractual obligation. Alternatively, if you’re a fan of social theorists such as Jean-Jacques Rousseau, you may argue that we’re also bound by ‘the social contract’, but we digress. Getting back to our original point, the law of contracts plays an enormous role in many of our interactions and for the most part, there may be no real concern in regards to the performance of a contract and an agreement will be completed accordingly. However, this does not mean that issues won’t arise within a contractual relationship, and there may be circumstances where you may need to discharge a contractwhich can be done by either one, or all of the parties to the agreement, and can be discharged by either:
BY PERFORMANCE
BY MUTUAL AGREEMENT
BY SUPERVENING IMPOSSIBILITY
BY OPERATION OF LAW
BY LAPSE OF TIME
BY LAPSE OF TIME BY PERFORMANCE Before exploring the general ways in which a contract can be discharged, the most obvious way in which acontract will come to an end, is when all parties fulfil their contractual obligations and the contract has been discharged via performance. Easy.
Exceptions to performance
Some people may be of the belief that performance of a contract includes the executing of every aspect of the contract of which the parties had agreed upon, and if performance of every part of the agreement has not been fulfilled, then the contract has not been fully performed The common law had subsequently recognised some exceptions to the general rule other than that performance of A contract must be exact and complete