BU231 Study Guide - Final Guide: Condition Subsequent, Contributory Negligence, E-Commerce

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The cancellation of the obligation of a contract (makes k null and inoperative: discharge by performance, discharge by agreement, discharge by frustration, discharge by operation of law, discharge by performance. Most common; both parties have performed their obligations under the contract satisfactorily. Tender of performance one party may attempt to perform, but the other party refuses to accept the performance; the attempt to perform is called a tender of performance whether accepted or rejected: discharge by agreement. Parties agree not to proceed with the performance of a k already in existence. Waiver an agreement not to proceed with the performance of a k already in existence. Can only occur when neither party has fully performed. Parties may agree between themselves not to perform their contract and discharge it. Consideration becomes an issue where one party has performed. Substituted agreement out of court where one party offers to pay money in lieu of performance.

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