This document discusses various aspects of contract law including performance of contracts, discharge of contracts, breach of contracts, and remedies for breach of contracts. It defines performance of contracts as both parties fulfilling their obligations. It describes two types of performance - actual and attempted. It also discusses who can demand performance and who will perform the contract. The document then covers quasi contracts, discharge of contracts through various modes like performance, agreement, impossibility of performance, lapse of time, and operation of law. It defines breach of contracts and provides examples of different remedies for breach like recission, specific performance, injunction, quantum merit, and damages.

1. Business law
By,
RUBIKA K (20BCE040)

2. Performance of contract
Meaning
The "performance of contract" means that
both, the promiser, and the promisee have
fulfilled their respective obligations, which
the contract placed upon them.

3. • Actual performance
Two ways of performing the
contract
When the party has done what he had
undertaken to do, it is called actual
performance. In actual performance,
party is to fulfill all his obligations
under the contract.

4. * 
Attempted performance
Attempted performance or tender is an offer of
performance by the promisor in accordance with
the terms of the contract. If the promisee does
not accept performance, the promisor is not
responsible for non-performance, nor does he
thereby lose his rights under the contract. Thus a
tender is equivalent to actual performance.

5. Who can demand performance?
Promisee
Legal
representative Third party

6. Who will perform the contract?
Promiser himself
Agent
Representations
Third persons
Joint promisors

7. Quasi contract
A quasi contract example involves an agreement between at
least two parties who had no prior obligation to each other.
Let's take the most basic example first.
Let's say you pay for a pizza to be delivered. If that pizza is
delivered to another house, and someone else enjoys your
three-topping special, a quasi contract could be initiated. Now,
the pizza could be court ordered to reimburse you for the
amount you paid for that pizza.

8. Types of quasi contract
sec 68,supply of neccesaties to persons
incompetent to contract
sec 69, payment by a person who is
interested in a transaction
sec 71, finder of goods
sec 72, money paid under a mistake
or coercien
sec 70, obligation enjoying benifit of
non gratuitous act
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9. Discharge of Breach of contract
• It implies the termination of the
contractual relationship between the
parties.
• A contract is discharged if it ceases to
operate and when the rights and
obligations may arise as a result of
discharge of the contract.
• These are independant of the original

10. Modes of
Discharge of Breach of contract
1.Discharge by Performance
Performace implies carrying out the
obligation of the contract. It must be
done according to the time nad
manner prescribed

11. 2. By agreement on consent
Agreement between the parties comes to an end by
mutually agreeing for it. In this connection the rule of
law is as follows."Eodem modo qus and quide
constituitor, eodem modo destruitur" - a thing may be
destroyed in the same manner, in which, it is
constituted.
Consent may be the following types:
=> Expressed => Implied

12. 3. By Impossibility of Performance
A contract may be discharged if its performmance
becomes impossible.The rule of impossibility of
performance is based on following maxims:
• the law does not recognize what is impossible
• what is impossible does not create an obligation.

13. 4. By Lapse of time
According to Limitation Act, 1963 a contract must
be performed within a specified time. If it is not
performed within this specified time limit and against
which if no action is taken by the promisee in the Court
of Law within specified time, then the promisee is
deprived of his remedy at law. In such cases, the
contract is discharged.

14. • By death - if contract depends on personal skill or ability
• By Merger - It take place when an inferior right accuring to
the same party either same or another contract
• By Insolvency - An insolvent is discharged
• Unauthorized alteration of the terms of contract - one
party making alteration without another party's
knowledge, the other can discharge the contract
• Rights and liabilities vesting in the person - Here the right
and liability become vested in the same person, the other
5. By Opertion of Law
The operation of Law by which contract can be discharged are as follows

15. All parties to a contract are expected to perform their
promises. When one party refuses to perform his
promise, then it is breach of contract.
There are various types of remedies of breach of
contract:
• Recission
• Claim for specific Performance
• Claim for Injunction
• Claim for Quantum Merit and,
Remedies for Breach of Contract

16. 1.Recission of contract
If one breaches the contract the other can
rescind the contract
For example: M promises N to supply him a
motor car on 1st jan 2022, and N promises to
pay for that on 1st jan 2022 if M breaches the
contract N is absolved from paying its price

17. 2. Claim for Specific Performance
In some specific cases if the damges are not the
adequate remedy, then the Court can direct the
party in breach for the specific performane of
the contract
There are some cases that court grants specific
performances that are common

18. 3.claim for Injunction
Injunction is an order by a competent court
restraining a person from doing some act. It can be
defined as a mode of securing the specific
performance of the negative terms of a contract.
Injunction is an order which is granted by the court
restraining the person to do what he had promised
not to do.

19. The meaning of the phrase quantum merit is 'as much as
earned' The claim is not for the original contract that has been
diascharged or void, but on an implied promise by the other
party to pay for what he has done.
QM arises in the following circumstances:
• if a contract is void
• no gratuitous intention
• one refuses to perform the contract
• if a contract is divisible
• if a contract is performed badly
4. Claim for Quantum Merit

20. 5. Claim for Damages
Damages are monetary compensation awarded by the
court to the injured party for the loss or injury suffered
by him. It is known as doctrine of restitution. Sec 73 of
Indian Contract Act,1872 deals with this. There are
mainly four types of dmages, such as
• ordinary damages
• special damages
• vindictive or exemplary damages and
• nominal damages