Monday, January 19, 2009

Discharging a contract

HOW CONTRACTS MAY BE DISCHARGED



"Discharge" simply refers to the process whereby a valid and enforceable contract is brought to an end, thereby releasing the parties to it from all further obligation to perform. Contracts can be discharged in five ways:



(a) by performance;

(b) by agreement between the parties;

(c) through frustration;

(d) through breach; and

(e) by operation of law.

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