Dischargeofcontract or terminalofcontract

1. Presenting To :
Prof. Faisal Noman
BUSINESS
LAW
Made by: Umar Raza

2. Meet Our Team
Umar Raza Tanya Singh Reenu Kumari
Sana Azim Suraj Shukla Sikha Pandey

3. Discharge Or Terminal Of
Contract And Its Remedies

4. Discharge of Contact
• A contract creates certain obligations
on one or all parties involved. The
discharge of a contract happens when
the parties released these obligations .
There are many ways in which a
contract is discharged.
• In this presentation, we will look at
various such scenarios.

5. By frustration
By Breach
By Agreement
04 03 02 01
By Performance
 Contracts can come to an end in the following ways:
Discharge of Contact

6. 1] Discharge by Performance
• When the parties to a contract fulfil the
obligations arising under the contract within
the time and manner prescribed, then
the contract is discharged by performance.
• Now, discharge by the performance of a
contract can be by:
1.Actual performance
2.Attempted performance

7. 2] Discharge by Agreement
• If all parties to a contract mutually
agree to replace the contract with a
new one or annul or remit or alter it,
then it leads to a discharge of the
original contract due to a mutual
agreement.

8. • Peter owes Rs 100,000 to John and agrees to repay it
within one year. They document the debt under a
contract. Subsequently, he loses his job and requests John
to accept Rs 75,000 as a final settlement of the loan. John
agrees and they make a contract to that effect.
• This discharges the original contract due to mutual
consent.
Example :

9. 3] Discharge by frustration
• A contract automatically comes to an end if it is discharged
by frustration.
• A contract is discharged by frustration when some
supervening event makes performance of the contract
impossible, illegal or something radically different from what
was originally envisaged by the parties.
• The contract is discharged automatically, regardless of the
intentions of the parties.

10. 4] Discharge by Breach of Contract
• If a party to a contract fails to perform his obligation
according to the time and place specified, then he is said
to have committed a breach of contract.
• Also, if a party repudiates a contract before the agreed
time of performance of a contract, then he is said to have
committed an anticipatory breach of contract.
1.An actual breach
2.An anticipatory breach of contract

11. Remedies for Breach of Contract
• When a promise or agreement is broken by any of the
parties we call it a breach of contract. So when either of the
parties does not keep their end of the agreement or does
not fulfil their obligation as per the terms of the contract, it is
a breach of contract.
• There are a few remedies for breach of contract available
to the wronged party.

12. 1] Recession of Contract
2] Sue for Damages
3] Sue for Specific Performance
4] Injunction
5] Quantum Meruit
 Let us take a look.

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