![]() If either of the person in the contract is not willing to continue the contract till you date then it is converted to the other party whether they may accept or not, the discharge of the contract by the agreement will happen.As it is an agreement that binds them, they can be discharged by their agreement or consent. A contract stands on the agreement of the parties.Discharge of Contract by Agreement or Consent.This situation where the promisor actually intended to perform his obligation or discharge his duty but is prevented from doing so by an intervening disability is known as the attempted performance of a promise. The promisor is not able to discharge his obligation or perform his duty because he is prevented by the promisee in doing so. Tender or offer of Performance: – At times when the performance becomes due.Most contracts are discharged from performance in this manner. The performance must be complete, accurate and as per the terms of the agreement. Actual Performance: – When both parties make their promises, the contract is terminated.This may be the actual performance or attempted performance (tender): –.The performance of a contract is the most common method of its discharge.Such a party gets the right to take action against the other party guilty of breach of contract. ![]() If only one party fulfills the promise, it is discharged alone. The contract is discharged from the performance. Here the parties have fulfilled their obligations. For Example: – ‘A’ offers to sell his house to ‘B’ for $100000 and ‘B’ accepts the same letter and paid the full amount.In such a case, the parties are discharged and the contract terminates. A contract is said to be discharged if the parties to the contract fulfill their obligations under the contract within the time and in the prescribed manner.What are the modes of discharge of contract?Ĭontracts can be terminated in the following 6 ways: –
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