This document is a business law assignment submitted by Abdul azees, a student in Class II B.Com(SF) with Rollno 18UR25. The assignment discusses performance of contracts, including who must perform contracts according to Section 37 of the Indian Contract Act, tender of performance and its essentials, assignment of contracts by act of parties or operation of law, and discharge of contracts through performance, death, refusal to accept offer of performance, or breach of contract.

1. Business law
Assignment II

2. Name : Abdul azees
Class : II B.Com(SF)
Rollno: 18UR25
Topic : performance of the contract
To : Miss.R.Muruga lakshmi mam
Date :26.09.2019

3. Performance of contracts
Who must perform?
 Sec.37: “The parties to a contract must either perform,or
offer to perform their respective promises,
 Unless such performance is dispensed with or excuses
under the provisions of this Act,or of any other law”.
 Representative‘s Liability: promises bind the legal
representative of the deceased promisor.

4. What is Tender of Performance?
 It is also called “offer to performance”. It is when the
parties to a contract offer to perform their respective
promises.
Essentials of a valid tender of performance:
 It must be unconditional: X offers to give his house to Y, if
Z permits. Offers is conditional, hence not a valid tender.
 Offer must be made by promisor or representative.

5. Assignment of Contracts
 Under certain circumstances, parties may drop out and
bring others in their places.
 To ‘assign’ means ‘to transfer’.
 An obligation of the party yo contract may be personal or
impersonal.
 The contract to marry being personal in nature cannot be
assigned,whereas debts of an individual is impersonal in
nature, hence assignable.

6. Types off Assignment
Assignment by act of parties: X owes Y Rs.1000.X cannot
transfer his liability yo a third person. However, if Y agrees
to accept Z as his debtor in place of X, the liability can then
be transferred from X to Y
Assignment by operation of law: (i) Upon death of a party,
rights and liabilities devolve upon his heirs and legal
representatives.
(ii) Upon insolvency, rights
and obligations pass on to Assignee or official receiver.

7. Discharge of contract
 It means “termination” of a contract
 By discharge the rights and obligations of the parties come
to an end
How is the contract is discharged?
 By performance;
 By death;
 By refusal to accept “ offer of performance ‘;
 By breach of contract – actual or anticipatory breach of
contract.

8. Thank you