Discharge from Contract - Explained
When is an Individual's Obligation in a Contract Relieved?
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What is Discharge of a Contract?
An individual is relieved from her duty to perform a contract in the following scenarios:
Void Contract - If a contract becomes void, both parties are relieved from their duty of performance.
Breach by Other Party - If the other party materially breaches the contract, the non-breaching party is relieved from the obligation to further perform the agreement.
Failure of a Condition - A contract may contain any number of conditions that may materialize (or fail to materialize), which relieve the parties obligation to perform under the contract.
Impossibility, Impracticability, of Frustration of Purpose - Parties to a contract may be relieved from their obligation to perform if performance becomes impossible, commercially impracticable, or the underlying purpose of the contract is frustrated.
Waiver or Release - A party may, per her own volition, sign a waiver or release relieving the other partys obligation to perform.
Any of the above situations may release one or both parties from their duties of performance.
Next Article: Contract Conditions - Precedent & Subsequent Back to: CONTRACT LAW
Do you agree that the above situations should relieve an individual from her obligations under a contract? Why or why not?
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