The document discusses various ways in which a contract can be discharged or terminated, including: 1. By performance or tender of performance by both parties. 2. By mutual consent or agreement between the parties, such as novation, rescission, alteration, remission, waiver, or merger. 3. By impossibility of performance, either inherent at the time of contract formation or supervening later, such as destruction of the subject matter. 4. By operation of law, such as death of a party, insolvency, lapse of time beyond the statute of limitations, or material alteration of the contract terms. 5. By breach of contract if a party fails to

2.  The cases in which a contract is discharged
may be classified as follows:
A. By performance or tender.
B. By mutual consent.
C. By impossibility of performance.
D. By operation of law.
E. By lapse of time
F. By breach of Contract

3.  When the contract is performed by both the
parties and there notthing remains to do,
then it is called discharge by performance
 Performance of contract is very common way
of discharge. It may be 
 Actual Performance
When both the parties perform their
promises.
 Attempted Performance or tender
Only an offer to perform the obligation under
the contract.

4.  The termination of contract by further
agreement or consent.
Ways to do so:
1.Novation
2.Rescission
3. Alteration
4. Remission
5. Waiver
6. Merger

5. ◦ When a new contract is substituted for an existing
one between the same parties
◦ When a new contract is substituted for an existing
one between one of the parties and a third party.
◦ Novation should take place before the expiry of the
time of the performance of the contract.

6. ◦ Takes place when all or some of the terms of the
contract are cancelled.
◦ Could be done by a)mutual consent or b) when one
party fails in the performance of contract, the other
party could rescind the contract without fear of
claim of compensation.

7.  Modification of one or more
terms of the contract by the
mutual consent of the parties.
Discharge by mutual
consent or agreement
Remission
 Remission means acceptance of
lesser sum than what is contracted
or lesser fulfilment of the promise.

8. When parties to the
contract agree that they
shall no longer be bound
to the contract

9. The party rescinding a voidable contract shall,
restore the benefit ,so far as may be ,to the part
if he has received under the contract from him.
Merger
Merger of two or more rights into one
contract . When an existing inferior right of
party merges into a newly acquired superior
right by the same party , it is a merger of
rights.

10. (a) Inherent impossibility
Known to the parties
Unknown to the parties
(b) Subsequent impossibility
A contracr is discharged by superventing
impossiblity in the following cases.
1. When the subject matter of the contract is
destroyed
2. death or incapacity of the parties
3. change of law
4. outbreak of war.

11. 1. By death
2. By insolvency
3. By merger
4. Rights and liablities becoming vested in the
same person.
5. material alteration
6. loss of evidence of contract

12.  According to law of limitation Act 1963, a
contract should be performed with in a
specified period
 That period is called period of limitation
 If it is not performed and no action is taken
by the promiseee with in the period of
limitation ,he can not take legal action in the
court .
 In other words , we can say that the contract
is terminated.

13.  Where the promisor neither performs his contract
nor tender his performances or where the
performances is defective , ther eis a breach of
contract.
 It occurs when a party to the contract does bnot
fulfil his contractual obligation or makes it
impossible.
 Breach of contract may be
 Actual Breach of Contract
 Anticipatory Breach of Contract