LAW 122 Chapter Notes - Chapter 11: Ender Wiggin

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A contract is discharged: when the parties are relieved of the need to do anything more. The most common form of discharge is performance: performance: occurs when the parties fulfill all of the obligations contained in the contract. however, in some situations it is difficult to determine whether proper performance has occurred. as a general rule the parties must performance exactly as the contract requires. A deviation from the terms is considered a breach. Although the parties generally have to perform exactly as the contract says, the courts usually hold that time is not of the essence. In other words, even if a contract states that performance must occur by a particular date, a party may be entitled to perform late. However, if it does so, it can be held liable for losses that the other party suffers as a result for the delay. In some situations, time is of the essence.