LLB 5 years Lectures | Various Modes of Discharge of Contract

Modes of Discharge of Contract:

🤝 By Performance: The parties fulfill their duties as agreed upon, leading to automatic discharge of the contract.

🏋️ Actual performance: Both parties fulfill their obligations according to the contract terms.
📝 Offer of performance: One party offers to fulfill their duties, subject to the discretion of the other party.
🤝 By Agreement: The contract is discharged through a new agreement replacing the old one.

🔄 Novation: Parties create a new contract to replace the existing one.
🗑️ Rescission: Some or all terms of the contract are canceled.
✏️ Alteration: Parties mutually agree to change one or more terms of the contract.
↩️ Remission: A party discharges the contract without making a new agreement.
⬆️ Merger: Lesser rights are merged into superior rights.
❌ By Impossibility: Performance becomes impossible after the contract formation, rendering the contract void.

⚠️ Initial impossibility: Parties enter into an agreement without knowledge of the impossibility.
⚠️ Subsequent impossibility: Circumstances arise that make performance impossible.
⚠️ Factors of impossibility: Destruction of subject matter, death, personal incapacity, change of law, or declaration of war.
⏰ By Lapse of Time: The contract is discharged if not performed within the specified time.

⚖️ By Operation of Law: The contract is discharged as a result of legal factors.

💼 Bankruptcy: The court declares a person bankrupt, leading to automatic discharge.
📝 Unauthorized alteration: One party alters the contract terms without the other party's consent.
❌ By Breach of Contract: One party fails to perform the terms, resulting in the discharge of the contract.

⛔️ Actual breach: Failure to perform when performance is required.
🚫 Anticipatory breach: Party expresses intention to fail in fulfilling contractual obligations.
❗️ Express breach: One party clearly refuses to perform the contract.
❓ Implied breach: One party does not clearly refuse to perform the contract.
In conclusion, contracts can be discharged through various means, including performance, agreement, impossibility, lapse of time, operation of law, and breach of contract. These modes result in the termination of the contractual relationship and the removal of rights and obligations. contract act 1872, ca foundation, llb lectures, llb notes, llb syllabus, contract law, contract act explained, contract act provisions, contract act case studies, contract law lectures, contract law notes, contract law syllabus, ca foundation law, ca foundation syllabus, llb exam preparation, contract law MCQs, contract law video lectures, contract law study materials, contract law revision, ca foundation exam, llb books, ca foundation coaching, llb past papers, contract law amendments, ca foundation mock tests, llb legal implications, ca foundation tutorials, llb online classes, contract law basics, ca foundation study plan