LAW 122 Lecture Notes - Lecture 11: Condition Precedent, Liquidated Damages
12 Oct 2016
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Discharge: discharge by performance, discharge by agreement (another contract, discharge by breach. Most contract suits are not brought over questions regarding the formation of a contract. They are brought because what one party considers to be an improper termination of a contract. You have obligations it you do not fulfill them; you must agree to discharge it. When a contract has been discharged, it means that it has been performed and is no longer a pending, legal obligation. A contract is discharged when the parties are relieved of the need to do anything more under the contract. Test: to discharge a contract is to end the obligation by agreement or by carrying it out. A contract can be discharged through the performance of its terms (obligations) Occurs then the parties fulfill all the obligations contained in the contract. Rule: parties must perform exactly as contract requires. Any deviation, however small, is count as a breach.
