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When the terms have been met or if circumstances beyond the control of the parties make it impossible for the contract to be enforced.
When the terms have been met or if circumstances beyond the control of the parties make it impossible for the contract to be enforced.
When the terms have been met or if circumstances beyond the control of the parties make it impossible for the contract to be enforced.
When the terms have been met or if circumstances beyond the control of the parties make it impossible for the contract to be enforced.
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What are the different ways in which a contract can be discharged?
A contract can be discharged in several ways: by performance, where both parties fulfill their obligations; by mutual agreement, where both parties consent to terminate the contract; by breach, when one party fails to meet their obligations; and by frustration, when unforeseen circumstances make performance impossible. Additionally, a contract may be discharged by operation of law, such as in cases of bankruptcy or expiration of the contract term.
Discharge by frustration?
A contract may be discharged by frustration. A contract may be frustrated where there exists a change in circumstances, after the contract was made, which is not the fault of either of the parties, which renders the contract either impossible to perform or deprives the contract of its commercial purpose. Where a contract is found to be frustrated, each party is discharged from future obligations under the contract and neither party may sue for breach. The allocation of loss is decided by the Law Reform (Frustrated Contracts) Act 1943.
What are the ways a contract of agency may arise?
when agency arise
How do you explain the various modes of)discharge of contract?
Discharge of contractQ. Describe the various modes in which a contract may be discharged. (2002)1. Introduction:A contract is said to be discharged when the rights and obligation created by it come to end. The contract act 1872 provides various ways in which a contract may be discharge or terminated.2. Modes of discharge of contract:Following are different modes in which a contract may be discharged.(I) Performance:Performance is a common mode of discharge of a contract. It is a common of discharge when the parties to a contract perform their share of promises the contract is discharged.(a) Types of performance:Performance may be of two types.(i) Actual performance:When each party to a contract fulfill the obligations arising under the contract according to the terms and conditions of the contract, it is called actual performance.(ii) Offer of performance:An offer to perform is know as Tender' or 'Offer' of performance when the promisor offers to perform the obligation but the other party refuses accept, the offer is equivalent to performance.Essentials of a valid offer of performance.(i) It must be unconditional .(ii) It must be made at proper time.(iii) It must be made at proper place.(iv) It must be made by a person who is able to perform the promise.(v) It must be made to the promise or his agent.(vi) An offer, of performance made to stranger is invalid.(vii) In case of tender of money exact amount should be tendered.(II) By agreement:A contract can also be discharged by the fresh agreement between the parties.(a) Ways to terminate the contract:Following are different ways to discharge a contract by agreement.(i) Novation:When the parties to the contract agree to substitute a new contract for a contract, that is called Novation.Kinds of Novation:(a) A Novation involving the change of parties.(b) A Novation involving substitution of a new contract in the place of old contract.(ii) Rescission:When all or some of the terms of contract are cancelled the contract is said to be rescined.Modes of rescission:Rescission may occur.(i) By mutual consent of the parties.(ii) When are party fails to reform his contractual obligation, the other party may rescind the contract.(iii) Alteration:When one or more of the contract is altered by actual consent of the parties, the contract is said to be altered.(iv) Release of waiver:Waiver means the intentional abandonment of a right, which a person is entitled to under a contract.(v) Remission:Remission of performance means that a promise can discharge the promisor also without a new agreement but not only without consideration. Creditors may accept lesser amount than what is due in discharge of the whole debt.(vi) Merger:It takes place when an inferior right accuring under a contract merger into a superior right accuring to the same party or some other contract.(III) By impossibility:Impossibility discharge the parties. If the act becomes impossible after the formation of contract, the contract is rendered void.(a) Categories of impossibility:Following are categories of impossibility.(i) Initial impossibility:Initial impossibility is that which is known or unknown to the parties.(ii) Subsequent impossibility:Some times a contract, is capable of being performed when entered into. But some subsequent event renders the performance impossible.(b) Factors causing impossibility of performance of contract:The following are the factors causing impossible of the performance of the contract.(i) Destruction of subject matter.(ii) Failure of ultimate purpose(iii) Death(iv) Personal incapacity(v) Change of law(vi) Declaration of war(IV) Discharge by laps of time:A contract may be discharge by laps of time. The contract should be performed with in a reasonable time. If a contract is not discharge with in a specified time, the contract is discharued.(V) By operation of law:A contract may be discharged by operation of law.Ways of termination:Following are different ways of discharge under operation of law.(a) Insolvency:Where the court declares a person as insolvent, the rights and liabilities are transferred to officer known as receiver so contract is discharged.(b) By unauthorized:If the terms of the contract, written on a document are materially altered by one party, without the consent of the other party the contract is discharged and can not be enforced.(VI) By breach of contract:A contract may be discharged by breach if one of the parties to a contract break the promise, the injured party has not only a right damages but it is also discharge from performing his part of the contract.(i) Actual breach:It occurs when a party fails to perform a contract, where performance is due.(ii) Anticipatory breach:An anticipatory breach contract occurs before the time fixed for performance has arrived. It may happed in two ways.(iii) Express breach:In express breach a party to contract communicates to the other party, his intention not be perform the contract on his part.(iv) Implied breach:In implied breach party to the contract does not act. Which makes the performance of the contract impossible,3. Conclusion:To conclusion it can be said that, when the rights and obligations arising out of a contract are extinguished the contract is said to be discharged. The contractual tie may be loosend and contract may be terminated under different modes under contract act.
1 When there is a unilateral mistake in what three types of situations may a contract not be enforced?
When there is a unilateral mistake, in what three types of situations may a contract not be enforced?
What is Contract discharge?
When a party to a contract is "discharged", the obligations and duties of that party have been fulfilled, waived, excused, or released. The party may be discharged by "full and exact performance" of his or her obligations, or may plead (in litigation) that discharge resulted from the breach of material terms by the opposing party, or failure of consideration, or other condition, excusing further performance. Note that the OTHER party may not be equally discharged and may continue to be bound by the terms, perhaps in proportion to the value of consideration received.By comparison, all further obligations and legal relationship of all parties under a contract can also be "terminated or canceled" by mutual consent, whether or not any party has fully "discharged" its obligations, or may (under limited conditions) be rescinded or modified in equity.
What are two ways that a contract may be discharge by operation of law?
frustration, bankruptcy
Describe three possible ways in which a hypothesis may rise?
describe three possible ways in which a hypothesis may rise?
What are the 5 ways to terminate a contract?
A contract can be terminated in several ways: Mutual Agreement: Both parties can agree to end the contract. Completion: The contract can be terminated once all obligations are fulfilled. Breach: If one party fails to meet their obligations, the other party may terminate the contract. Frustration: If unforeseen circumstances make the contract impossible to fulfill, it can be terminated. Expiration: Contracts may have a specified end date, after which they automatically terminate.
Explain the provisions relating to the methods of discharging a contract by mutual agreement?
DescriptionThis section is from the book "The Law Of Contracts", by Samuel Williston. Also available from Amazon: Treatise on the Law of Contracts. Sec. 1793. Methods Of Discharge A contract may be discharged in the following ways: 1. Performance according to its terms.2. A breach of such a nature as to justify the innocent party in treating the contract as rescinded or as giving rise to a right of action for breach of the entire contract.3. Rescission of a voidable contract, at the will of one party, as for fraud, mistake, duress.4. Release.5. Rescission or renunciation by parol agreement.6. Accord and satisfaction, including accounts stated and novation.7. Cancellation and surrender.8. Alteration.9. Merger.10. Impossibility.To these may be added two defenses which generally are held merely to bar the remedy on the contract,11. Bankruptcy.12. Statutes of Limitation.A right of action upon a contract may be discharged in any of these ways except the second and the eleventh.
What are three ways reservoirs may be used?
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Can you be discharged for being bipolar?
You may be discharged from the military for any condition that prevents your ready deployment. You may also be discharged for not disclosing a previously known condition, and such cases you could be charged and court marshaled.
