LAW 122 Chapter Notes - Chapter 11: Condition Subsequent
15 Apr 2012
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As we learned in chapter 9 & 10, some contracts come to an end when they are voided or rescinded. Most contracts, however, are brought to an end via discharge: discharged: a contract is discharge when the parties are relieved of the need to do anything more under the contract. Discharge by performance: performance: occurs when the parties fulfill all of the obligations contained in the. The most common form of discharge is performance. 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.
