Discharge Of Contract

When a contract is discharged, it means that the agreement has been terminated and all obligations under the contract have been extinguished. This can happen in a number of ways, including:

-Performance: The contract is completed as agreed upon by both parties.

-Agreement: Both parties agree to terminate the contract. This could be done orally or in writing.

– breach: One party fails to uphold their end of the bargain, thereby breaching the contract. The non-breaching party may then choose to discharge the contract.

-Impossibility: If something happens that makes it impossible for either party to perform under the contract, then the contract may be discharged. For example, if the subject matter of the contract is destroyed, this would make performance impossible.

In some cases, a discharge of contract may be partial, meaning that only some of the obligations under the agreement are extinguished. For example, if two parties agree to terminate a lease agreement early, but one party still owes rent for the time they occupied the property, then that party would still be liable for that rent even though the rest of the contract has been discharged.