Performance of contract-8
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The document discusses various aspects of performing contracts including: 1. The requisites of a valid tender including being unconditional, for the whole quantity, by an authorized person, at the proper time and place, and to the proper person. 2. Circumstances where contracts do not need to be performed such as when performance becomes impossible or the parties agree to modify or rescind the contract. 3. Who is responsible for contract performance - the promisor, their agent, legal representatives, or a third party. Joint promisors' obligations can devolve through default or release. 4. Time and place of performance depends on what is specified in the contract or prescribed by the promisee
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Performance of contract
The document discusses various aspects of performance of contracts and obligations. It covers topics like tender of performance, time and place of performance, reciprocal promises in contracts, application of payments to debts, appropriation of payments by debtor/creditor/law, and discharge of contracts by act of parties or operation of law. The key points are summarized in 3 sentences:
The document outlines the conditions for a valid tender of performance, including that it must be unconditional, made at the proper time and place, and to the proper person. It also discusses the time and place for performance of contracts when specified or not specified by the parties. The document covers topics such as reciprocal promises in contracts, application of payments to multiple debts owed, and
Performance of contract
This document discusses the performance of contracts under Indian law. It defines performance as the fulfillment of obligations by the parties, which discharges the contract. There are two types of performance: actual performance and attempted performance (tender/offer of performance). It outlines the rules for tender of performance, performance by joint promisors, appropriation of payments, who can perform and demand performance, and time and place of performance.
Performance of contract
This document discusses various aspects of performance of contracts under Indian contract law. It defines actual performance as both parties fulfilling their obligations under the contract, while attempted performance or tender refers to the promisor offering to perform but the promisee refusing acceptance. It also discusses rules around tender, who can demand performance, devolution of joint rights, performance of reciprocal promises, and consequences of default or prevention of performance.
Contract of Indemnity and Guarantee
This document provides an introduction to contracts of indemnity and guarantee under Indian contract law. It defines a contract of indemnity as one where one party promises to save another from loss caused by the conduct of the promisor or a third party. A contract of guarantee is defined as a promise to perform or discharge the liability of a third party in case of their default. The key parties in each are identified. Essentials and rights under each contract are outlined, along with differences between the two types of contracts.
Contract of indemnity contract of guarantee
An indemnity contract involves two parties, where one party (the indemnifier) promises to compensate the other (the indemnified) for losses caused by the indemnifier or a third party. A guarantee contract involves three parties, where one (the surety) guarantees to perform a promise made by a second (the principal debtor) if the second defaults, to benefit a third (the creditor). The principal debtor is primarily liable, while the surety is secondarily liable. The surety's rights include subrogation to the creditor's rights against the debtor, benefit of securities held by the creditor, and reimbursement from the debtor for amounts paid. The surety is discharged by changes to
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Performance of contract
The document discusses various concepts related to performance of contracts under Indian contract law, including:
1) An offer of performance by the promisor allows them to avoid being responsible for non-performance and does not cause them to lose their rights under the contract.
2) For a tender of performance to be valid, it must be unconditional, for the full amount, made by someone willing and able to perform, at the proper time and place and to the proper person.
3) Contracts can generally be performed by the promisor, their agent, legal representatives, or a third party accepted by the promisee. Reciprocal promises and issues regarding time and place of performance are also addressed.
Discharge of contract
This document discusses the various ways in which a contract can be discharged, including:
1) By performance or tender of performance by both parties.
2) By mutual consent through novation, rescission, alteration, remission, waiver or merger.
3) By impossibility of performance, which can be inherent, subsequent, or due to commercial impossibility, failure of a third party, or other events.
4) By operation of law due to events such as death, insolvency, or merger.
5) By lapse of time.
6) By breach of contract, which can be an actual or anticipatory breach.
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Performance of contract
The document discusses various aspects of performance of contracts and obligations. It covers topics like tender of performance, time and place of performance, reciprocal promises in contracts, application of payments to debts, appropriation of payments by debtor/creditor/law, and discharge of contracts by act of parties or operation of law. The key points are summarized in 3 sentences:
The document outlines the conditions for a valid tender of performance, including that it must be unconditional, made at the proper time and place, and to the proper person. It also discusses the time and place for performance of contracts when specified or not specified by the parties. The document covers topics such as reciprocal promises in contracts, application of payments to multiple debts owed, and
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This document discusses the performance of contracts under Indian law. It defines performance as the fulfillment of obligations by the parties, which discharges the contract. There are two types of performance: actual performance and attempted performance (tender/offer of performance). It outlines the rules for tender of performance, performance by joint promisors, appropriation of payments, who can perform and demand performance, and time and place of performance.
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This document discusses various aspects of performance of contracts under Indian contract law. It defines actual performance as both parties fulfilling their obligations under the contract, while attempted performance or tender refers to the promisor offering to perform but the promisee refusing acceptance. It also discusses rules around tender, who can demand performance, devolution of joint rights, performance of reciprocal promises, and consequences of default or prevention of performance.
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This document provides an introduction to contracts of indemnity and guarantee under Indian contract law. It defines a contract of indemnity as one where one party promises to save another from loss caused by the conduct of the promisor or a third party. A contract of guarantee is defined as a promise to perform or discharge the liability of a third party in case of their default. The key parties in each are identified. Essentials and rights under each contract are outlined, along with differences between the two types of contracts.
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The document discusses various concepts related to performance of contracts under Indian contract law, including:
1) An offer of performance by the promisor allows them to avoid being responsible for non-performance and does not cause them to lose their rights under the contract.
2) For a tender of performance to be valid, it must be unconditional, for the full amount, made by someone willing and able to perform, at the proper time and place and to the proper person.
3) Contracts can generally be performed by the promisor, their agent, legal representatives, or a third party accepted by the promisee. Reciprocal promises and issues regarding time and place of performance are also addressed.
Discharge of contract
This document discusses the various ways in which a contract can be discharged, including:
1) By performance or tender of performance by both parties.
2) By mutual consent through novation, rescission, alteration, remission, waiver or merger.
3) By impossibility of performance, which can be inherent, subsequent, or due to commercial impossibility, failure of a third party, or other events.
4) By operation of law due to events such as death, insolvency, or merger.
5) By lapse of time.
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The document discusses the performance of contracts under Nepali law. It defines performance of a contract as both parties fulfilling their obligations under the agreement. For a contract to be valid, it must be possible to perform from the beginning. The safest way to end a contract is through performance, as it avoids disputes and maintains good relationships between parties. Contracting parties must perform at the agreed upon time, place, and manner specified in the contract. Nepali law also outlines provisions related to reciprocal performance, time essence, circumstances allowing non-performance, assignment of rights and liabilities, parties responsible for performance, and statutes of limitations.
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The document discusses the various ways in which a contract can be discharged or terminated, including by performance, agreement, impossibility of performance, lapse of time, operation of law, and breach of contract. It provides details on each type of discharge, such as how discharge by performance occurs when both parties fulfill their obligations, while discharge by breach of contract happens when one party fails to meet their contractual duties. Remedies for breach of contract that may be available include rescission, damages, quantum meruit, specific performance, and injunction.
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The document outlines the 10 essential elements of a valid contract according to Indian contract law: 1) Proper offer and acceptance, 2) Intention to create a legal relationship, 3) Lawful consideration, 4) Competent parties, 5) Free consent, 6) Lawful object, 7) Certainty of meaning, 8) Possibility of performance, 9) Not declared void or illegal, and 10) Compliance with legal formalities such as writing or registration requirements. The elements must all be present for an agreement to be considered an enforceable contract under Indian law.
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The document discusses various types of contracts under Indian contract law including contingent contracts, quasi contracts, indemnity contracts, guarantee contracts, bailment contracts, pledge contracts, and agency contracts.
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2. The types of contracts are discussed such as void, voidable, illegal, unenforceable, express, implied, quasi, executed, executory, unilateral and bilateral. The formation of contracts including offer, acceptance, revocation and lapse of offer are also summarized.
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Undue Influence
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Georg Ohm was a German physicist who experimentally determined Ohm's Law in 1827, which states that the current through a resistor is directly proportional to the voltage across it. However, his ideas were initially rejected by his peers and he lived in poverty for several years before gaining recognition. Ohm's Law can be expressed mathematically as V = I * R, where V is voltage, I is current, and R is resistance. Kirchhoff's laws provide relationships for the analysis of electric circuits: Kirchhoff's voltage law states that the algebraic sum of the voltages around any closed loop is zero, and Kirchhoff's current law states that the algebraic sum of currents at any node is zero.
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Here are the key things I've learned from our lesson:
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The most important things are to keep practicing, learn from feedback, and focus on continual growth rather than comparisons to others. You seem engaged and willing to learn - with
Performance of Contract ,Business Law case
This case deals with a unilateral mistake made on a website listing the price of an HP laser printer as $66 instead of the intended $3,854. Six appellants noticed the much lower price and each ordered over 100 printers. When the mistake was discovered, the company sent emails saying it would not fulfill the orders. The court ruled in favor of the defendant company, finding that while a unilateral mistake occurred, the appellants had constructive knowledge of the mistake given the significant price discrepancy. As the mistake related to a fundamental term of the contract, the contract was considered void. Consensus ad idem did not apply as the appellants were aware of the mistake.
Quasi contract
A quasi-contract is an obligation imposed by law that requires one party to compensate another party. It arises in situations where there is no valid contract but where justice demands compensation be provided. Key features of a quasi-contract include that it is not based on a formal agreement and can only be enforced against specific individuals involved in the situation, not the world at large. Common examples include a plumber mistakenly installing a sprinkler system and then being required to be paid, or goods being left at someone's house by mistake and the person keeping the goods for their own use. The goal of a quasi-contract is to prevent unjust enrichment at another's expense.
Discharge of contract lecture notes
A contract may be discharged in 3 ways: performance, agreement, or breach. Performance requires all terms to be precisely met but exceptions exist like partial performance or prevention of performance. Agreement allows discharge by accord, rescission, variation or waiver. Breach occurs if a party repudiates the contract or substantially fails their obligations, allowing the other party to treat the contract as discharged.
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Business & commercial law presentation on bailment and pledge
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Business Law
DISCHARGE OF A CONTRACT
DISCHARGE BY PERFORMANCE
DISCHARGE BY AGREEMENT OR CONSENT
DISCHARGE BY IMPOSSIBILITY OF PERFORMANCE
DISCHARGE BY LAPSE OF TIME
DISCHARGE BY OPERATION OF LAW
DISHARGE BY BREACH OF CONTRACT
Performance of contract
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.
legal aspect unit 1b.pptx
The document discusses performance and discharge of contracts. It defines performance of a contract as both parties fulfilling their obligations. There are different types of performance including actual, substantial, and attempted. A contract can be performed by the promisor, agent, legal representative, third person, or joint promisors.
A contract is discharged when the obligations end, which can occur through performance, agreement, lapse of time, impossibility, operation of law, accord and satisfaction, or breach. If a contract is breached, remedies for the non-breaching party include rescission, damages, specific performance, injunction, and quantum meruit. Sureties have rights against the principal debtor, creditor, and co-
Business law
The document discusses the definition and types of consideration required for a valid contract under Indian contract law, noting that consideration means both parties receive something of value in exchange for their promises. It provides examples of valid consideration and outlines rules like consideration must be something of value and move at the desire of the promisor rather than a third party for a contract to be enforceable.
Business laws
Breach of contract occurs when one party fails to meet their obligations under a contract. There are three main types of breach: anticipatory breach, where a party signals they will not perform before the deadline; actual breach, where a party fails to perform by the deadline or makes performance impossible; and partial breach, where a non-material part of the contract is breached. When a breach occurs, the innocent party is entitled to damages to put them in the position they would have been in if the contract was fulfilled. Remedies for the innocent party include getting the breaching party to reconsider, contacting consumer forums, or suing for damages or specific performance.
Discharge of ObligationsA. Discharge of Contract DutiesA perso.docx
Discharge of Obligations
A. Discharge of Contract Duties
A person is liable to perform agreed-to contract duties until or unless he or she is discharged. If the person fails to perform without being discharged, liability for damages arises. Here we deal with the second-to-the-last of the four broad themes of contract law: how contract duties are discharged.
Discharge by Performance (or Nonperformance) of the Duty
A contract can be discharged by complete performance or material nonperformance of the contractual duty. There is in every contract “an implied covenant of good faith” (honesty in fact in the transaction) that the parties will deal fairly, keep their promises, and not frustrate the other party’s reasonable expectations of what was given and what received.
Full Performance
Applies to the promises to answer personally for a duty of the deceased person made by the executor of the will, or by the administrator of the estate if there is no will.
Nonperformance, Material Breach
Under UCC Section 2-106(4), a party that ends a contract breached by the other party is said to have effected a cancellation. The cancelling party retains the right to seek a remedy for breach of the whole contract or any unperformed obligation. The UCC distinguishes cancellation from termination, which occurs when either party exercises a lawful right to end the contract other than for breach.
Substantial Performance
Logically, anything less than full performance, even a slight deviation from what is owed, is sufficient to prevent the duty from being discharged and can amount to a breach of contract. But under modern theories, an ameliorative doctrine has developed, called substantial performance: if one side has substantially, but not completely, performed, so that the other side has received a benefit, the nonbreaching party owes something for the value received.
Substantial Performance
The doctrine of substantial performance recognizes that the contractor has not completed construction, and therefore is in breach of the contract. Under the doctrine, however, the owner cannot use the contractor’s failure to complete the work as an excuse for non-payment. “By reason of this rule a contractor who has in good faith substantially performed a building contract is permitted to sue under the contract, substantial performance being regarded as full performance, so far as a condition precedent to a right to recover thereunder is concerned.”
Anticipatory Breach and Demand for Reasonable Assurances
When a promisor announces before the time his performance is due that he will not perform, he is said to have committed an anticipatory breach (or repudiation). Another type of anticipatory breach consists of any voluntary act by a party that destroys, or seriously impairs, that party’s ability to perform the promise made to the other side. These same general rules prevail for contracts for the sale of goods under UCC Section 2-610.
Related to the concept of anticipat.
Performance of contract-1 law presentation
My name is khushdeep kaur and .This ppt are show that what is the performance of contract and how it is work under the law 😊😊😊😊👏👏👏👏👏👏👏👏👏👏👏👏👏👏I am glad that it may help to all of you
Peformance of the contract
under in this slides discuss performance of the contract and who can demand performance of contract .
under in this slide give a small knowledge about the performance of contract
Specific performance, can parties contract out
Specific performance is a court order requiring a party to fulfill their contractual obligations. It is a discretionary remedy granted when monetary damages are inadequate. Certain types of contracts, such as those involving land or unique goods, are more likely to receive specific performance. Parties can generally contract out of specific performance by including damages provisions or defenses to the remedy. However, courts may scrutinize such provisions between parties with unequal bargaining power.
discharge of contract
This document discusses various modes of discharging a contract, including performance, agreement, impossibility, lapse of time, operation of law, and breach. It notes that a contract can be discharged through actual or tendered performance, novation, alteration, rescission, remission, or waiver. A contract may also be discharged if the purpose fails or becomes impossible or unlawful to perform due to destruction of the subject matter, failure of purpose, death or incapacity of a person, or change in law. Breach of contract, either actual or anticipatory, also discharges a contract.
Performance of contracts ppt @ bec doms
The document discusses various aspects of contract law such as performance of contracts, tender of performance, assignment of contracts, discharge of contracts, breach of contracts and remedies for breach. It explains that the legal representatives of a deceased promisor are bound to perform the promises made by the promisor. It also discusses different ways a contract can be discharged including performance, impossibility of performance, breach, lapse of time, and agreement or consent through novation, accord and satisfaction, waiver or rescission.
Breach of contract
The document discusses breach of contract, including actual and anticipatory breach. It defines key terms like defaulting party and aggrieved party. In case of breach, the aggrieved party has several options for recourse under law, including cancelling the contract, claiming damages in compensation for losses, seeking specific performance of the contract, or obtaining an injunction [against the defaulting party]. Damages aim to financially remedy the aggrieved party and may include ordinary damages for expected losses as well as special, exemplary, or liquidated damages depending on the circumstances of the breach.
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These slides include understanding for Performance of contract, Discharge of contract & remedies for Breach of Contract.
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This document summarizes key aspects of contract law in Nepal. It discusses how contracts must be performed precisely according to their terms. Only the promisee has the right to demand performance, though there are exceptions for beneficiaries, joint promisees, and family settlements. Performance can be done by the promisor, an agent, or legal representative. Contracts become void if performance becomes impossible due to changes in circumstances. Rights and obligations can be assigned, except for contracts that are personal in nature.
Management's Legal Aspect -Indian Contract Act 1872
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Les 2 - Basics of Contract Agency and Tort Apr 2020.pptx
This document provides an overview of maritime law and personnel management. It covers the basics of contract law, agency law, and tort law. For contract law, it defines contracts, outlines the essential requirements for a valid contract, and describes different types of contracts. It also discusses offer and acceptance, terms of a contract, breach of contract, and the Unfair Contract Terms Act of 1977. For agency law, it defines agency, discusses how agencies are created, and outlines the rights and duties of both agents and principals.
Business law module 1
What Is Contract?, Formation of Indian Contract Act, Agreement,Offer or Proposal, TYPES OF OFFER, Acceptance, Capacity, Minors, Unsound Mind, Consideration, Consent, Legal Object, Void Agreement, Discharge of Contract, Remedies for breach of contracts, Contingent Contract, Contract of Indemnity, Essential elements of a contract of indemnity , RIGHTS OF INDEMNITY HOLDER, Contract of Guarantee, Essential elements of a contract of Guarantee, CONTRACT OF BAILMENT, Essential elements of a contract of Bailment, MODES OF DELIVERY
law (unit-i) (1).pptx
The document provides an overview of Indian contract law and the law of agency. It defines a contract and outlines the essential elements for a valid contract such as offer, acceptance, consideration, lawful object, and intention to create a legal relationship. It also discusses formation of contracts, performance and discharge of contracts, breach of contract and available remedies. Additionally, it covers the definition of agency, duties and rights of agents and principals, and termination of agency.
Breach of contract
This document summarizes key concepts related to the discharge and breach of contracts, as well as remedies available when contracts are breached. It discusses how contracts can be discharged through performance, mutual agreement, breach, impossibility of performance or operation of law. It defines different types of breaches including material breach, minor breach, anticipatory breach and actual breach. The document also outlines various remedies available to injured parties, including rescission of contract, damages (compensatory, general, special, exemplary, nominal, contemptuous), quantum meruit, suit for specific performance, and suit for injunction. It provides examples for many of these concepts.
Contract+2
Quasi contracts are obligations imposed by law that are not true contracts as one or more essential elements of a contract are missing. They are based on principles of equity and justice to prevent unjust enrichment. Some types of quasi contracts include recovery of money paid by mistake or under coercion, or for necessaries provided. Quantum meruit allows recovery of payment for work done even if the full contract is not completed, in proportion to the work performed. Breach of contract involves failing to meet obligations of an agreement. Available remedies for the injured party include rescission, damages, specific performance, injunctions, and quantum meruit claims.
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Entrepreneurship
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Details
1. Women entrepreneurs in India face several challenges including lack of access to financial capital and social/cultural barriers. Family obligations and lack of independence make it difficult for women to devote sufficient time to business.
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1. A void agreement is one that is not enforceable by law and does not create any legal obligations.
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Cosa hanno in comune un mattoncino Lego e la backdoor XZ?
ABSTRACT: A prima vista, un mattoncino Lego e la backdoor XZ potrebbero avere in comune il fatto di essere entrambi blocchi di costruzione, o dipendenze di progetti creativi e software. La realtà è che un mattoncino Lego e il caso della backdoor XZ hanno molto di più di tutto ciò in comune.
Partecipate alla presentazione per immergervi in una storia di interoperabilità, standard e formati aperti, per poi discutere del ruolo importante che i contributori hanno in una comunità open source sostenibile.
BIO: Sostenitrice del software libero e dei formati standard e aperti. È stata un membro attivo dei progetti Fedora e openSUSE e ha co-fondato l'Associazione LibreItalia dove è stata coinvolta in diversi eventi, migrazioni e formazione relativi a LibreOffice. In precedenza ha lavorato a migrazioni e corsi di formazione su LibreOffice per diverse amministrazioni pubbliche e privati. Da gennaio 2020 lavora in SUSE come Software Release Engineer per Uyuni e SUSE Manager e quando non segue la sua passione per i computer e per Geeko coltiva la sua curiosità per l'astronomia (da cui deriva il suo nickname deneb_alpha).
Pushing the limits of ePRTC: 100ns holdover for 100 days
At WSTS 2024, Alon Stern explored the topic of parametric holdover and explained how recent research findings can be implemented in real-world PNT networks to achieve 100 nanoseconds of accuracy for up to 100 days.
Full-RAG: A modern architecture for hyper-personalization
Mike Del Balso, CEO & Co-Founder at Tecton, presents "Full RAG," a novel approach to AI recommendation systems, aiming to push beyond the limitations of traditional models through a deep integration of contextual insights and real-time data, leveraging the Retrieval-Augmented Generation architecture. This talk will outline Full RAG's potential to significantly enhance personalization, address engineering challenges such as data management and model training, and introduce data enrichment with reranking as a key solution. Attendees will gain crucial insights into the importance of hyperpersonalization in AI, the capabilities of Full RAG for advanced personalization, and strategies for managing complex data integrations for deploying cutting-edge AI solutions.
Let's Integrate MuleSoft RPA, COMPOSER, APM with AWS IDP along with Slack
Discover the seamless integration of RPA (Robotic Process Automation), COMPOSER, and APM with AWS IDP enhanced with Slack notifications. Explore how these technologies converge to streamline workflows, optimize performance, and ensure secure access, all while leveraging the power of AWS IDP and real-time communication via Slack notifications.
GraphSummit Singapore | The Art of the Possible with Graph - Q2 2024
Neha Bajwa, Vice President of Product Marketing, Neo4j
Join us as we explore breakthrough innovations enabled by interconnected data and AI. Discover firsthand how organizations use relationships in data to uncover contextual insights and solve our most pressing challenges – from optimizing supply chains, detecting fraud, and improving customer experiences to accelerating drug discoveries.
Presentation of the OECD Artificial Intelligence Review of Germany
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Sudheer Mechineni, Head of Application Frameworks, Standard Chartered Bank
Discover how Standard Chartered Bank harnessed the power of Neo4j to transform complex data access challenges into a dynamic, scalable graph database solution. This keynote will cover their journey from initial adoption to deploying a fully automated, enterprise-grade causal cluster, highlighting key strategies for modelling organisational changes and ensuring robust disaster recovery. Learn how these innovations have not only enhanced Standard Chartered Bank’s data infrastructure but also positioned them as pioneers in the banking sector’s adoption of graph technology.
UiPath Test Automation using UiPath Test Suite series, part 6
Welcome to UiPath Test Automation using UiPath Test Suite series part 6. In this session, we will cover Test Automation with generative AI and Open AI.
UiPath Test Automation with generative AI and Open AI webinar offers an in-depth exploration of leveraging cutting-edge technologies for test automation within the UiPath platform. Attendees will delve into the integration of generative AI, a test automation solution, with Open AI advanced natural language processing capabilities.
Throughout the session, participants will discover how this synergy empowers testers to automate repetitive tasks, enhance testing accuracy, and expedite the software testing life cycle. Topics covered include the seamless integration process, practical use cases, and the benefits of harnessing AI-driven automation for UiPath testing initiatives. By attending this webinar, testers, and automation professionals can gain valuable insights into harnessing the power of AI to optimize their test automation workflows within the UiPath ecosystem, ultimately driving efficiency and quality in software development processes.
What will you get from this session?
1. Insights into integrating generative AI.
2. Understanding how this integration enhances test automation within the UiPath platform
3. Practical demonstrations
4. Exploration of real-world use cases illustrating the benefits of AI-driven test automation for UiPath
Topics covered:
What is generative AI
Test Automation with generative AI and Open AI.
UiPath integration with generative AI
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
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Performance of contract-8
- 2. Requisites of a valid tender It must be unconditional. It must be of the whole quantity. It must be by a person in a position. It must be made at the proper time and place. It must be made to the proper person. It may be made to one of the several joint promisees It must give a reasonable opportunity to the promisee for inspection of the goods. The debtor must make a valid tender in legal tender money.
- 3. Effects of refusal of a party to perform promise wholly Contracts which need not be performed: When its performance becomes impossible. When the parties to it agree to substitute a new contract for it or to rescind or alter it. When the promisee dispenses with or remits, wholly or in part. When the person at whose option it is voidable, rescinds it. When the promisee neglects or refuses to afford .
- 4. By whom must contracts be performed? 1. Promisor himself. 2. Agent 3. Legal representatives. 4. Third person. 5. Joint promisors.
- 5. Devolution of joint liabilities Any of the joint promisors may be compelled to perform. A joint promisor compelled to perform may claim contribution. Sharing of loss arising from default. Release of a joint promisor.
- 6. Devolution of joint rights
- 7. Who can demand performance?
- 8. Time and place of performance Where no application is to be made and no time is specified. Where time is specified and no application is to be made. Application for a performance on a certain day and place. Application by the promisor to promisee to appoint place. Performance in manner or at time prescribed or sanctioned by the promisee.
- 9. Reciprocal promises Mutual & independent Conditional & dependent Mutual & concurrent
- 10. Rules regarding performance of reciprocal promises Simultaneous performance Order of performance Effect of one party preventing another Effect of default as to promise to be performed first To do things legal and other things illegal
- 11. Time as the essence of the contract When time is of the essence. When time is not of the essence.
- 13. Appropriation of payments Where the debtor intimates. Where the debtor does not intimates & the circumstances are not indicated. Where the debtor does not intimate & creditor falls to appropriate.
- 14. Assignment of contracts 1. Act of the parties Assignment of contractual obligations. Contractual obligations involving personal skills & ability cannot be assigned. A promisor cannot assign his liabilities or obligation under a contract. Assignment of contractual rights. • The rights & the benefits under the contract not involving personal skills may be assigned. • An actionable claim can always be assigned. 2. Operation of law Death Insolvency