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Discharge of Contract

Discharge of Contract. Modes of Discharge of Contract. By Performance By Agreement Impossibility of Performance Lapse of Time Operation of Law Breach of Contract. By Performance. Actual Performance Attempted Performance. By Agreement. Novation Rescission Alteration Remission

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Discharge of Contract

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  1. Discharge of Contract

  2. Modes of Discharge of Contract • By Performance • By Agreement • Impossibility of Performance • Lapse of Time • Operation of Law • Breach of Contract

  3. By Performance • Actual Performance • Attempted Performance

  4. By Agreement • Novation • Rescission • Alteration • Remission • Waiver • Merger

  5. By Impossibility of Performance • At the time of Agreement • Known to the parties • Unknown to the parties • Subsequent to Contract (Supervening Impossibility) • Destruction of Subject Matter • Non-existence of a particular state of things • Death or incapacity • Change of law or stepping of a statutory authority

  6. Impossibility of Performance- Not an Excuse • Difficulty of Performance • Commercial impossibility • Failure of a third person • Strikes, lock-out and civil disturbance • Failure of one of the object

  7. By Lapse of Time • Limitation act

  8. By Operation of Law • By Death • By Merger • Insolvency • Unauthorized alteration • Rights and liabilities vested in the same person

  9. By Breach of Contract • Actual • Anticipatory

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