Show FRUSTRATION OF CONTRACT (TERMINATION OF SERVICE BY OPERATION OF LAW AND IMPOSSIBILITY OF PERFORMANCE) THE LEGAL CONSEQUNCES
What are the four 4 types of discharge of contract?A contract is said to be discharged using the following methods:. Discharge by Performance.. Discharge by Agreement or Consent.. Discharge by Impossibility of Performance.. Discharge by Lapse of Time.. Discharge by Operation of Law.. Discharge by Breach of Contract.. Under what circumstances a contract is discharged?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.
What are the 4 conditions of a contract?For a contract to be valid, it must have four key elements: agreement, capacity, consideration, and intention.
What must there be for a contract to be discharged by performance?A contract is said to be discharged by performance when both the parties perform all the primary obligations both express and implied which are set out under the contract. The obligation is considered performed only if the performance complies with the standard of performance required.
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