Discharge from Contract - Explained
When is an Individual's Obligation in a Contract Relieved?
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Table of ContentsWhat situations relieve individuals from performing her duties under a contract?Discussion QuestionAcademic Research
What is Discharge of a Contract?
An individual is relieved from her duty to perform a contract in the following scenarios:
Void Contract - If a contract becomes void, both parties are relieved from their duty of performance.
Breach by Other Party - If the other party materially breaches the contract, the non-breaching party is relieved from the obligation to further perform the agreement.
Failure of a Condition - A contract may contain any number of conditions that may materialize (or fail to materialize), which relieve the parties obligation to perform under the contract.
Impossibility, Impracticability, of Frustration of Purpose - Parties to a contract may be relieved from their obligation to perform if performance becomes impossible, commercially impracticable, or the underlying purpose of the contract is frustrated.
Waiver or Release - A party may, per her own volition, sign a waiver or release relieving the other partys obligation to perform.
Any of the above situations may release one or both parties from their duties of performance.
Next Article: Contract Conditions - Precedent & Subsequent Back to: CONTRACT LAW
- When is a party's Duty of performance?
- What is an Executed contract vs an Executory contract?
- What is Performance, Substantial Performance, and Breach of a contract?
- What is performance of a Divisible Contract?
- What are conditions to Contract (Precedent & Subsequent)?
- What is tender performance of a contract?
- What are Impossibility and Impracticability
- What is a Frustration of Purpose?
- Waiver or Release from Contract
- What is a Breach of Contract?
- Acceleration Clause (Contracts) Definition
- What methods exist for resolving a breach?
- What remedies exist for a breach of contract?
- What is Efficient Breach?
Do you agree that the above situations should relieve an individual from her obligations under a contract? Why or why not?