CL: Discharge Of Contract & Contractual Remedies

Question 1

8.1 what is a discharge of contract ?

Answer 1

Means that the obligations of the contract come to an end
All duties which arose under the contract are terminated

Question 2

8.1m what are the 4 ways in which a contract may be discharged ?

Answer 2

Agreement
Performance of the contract
Frustration ( where the contract is impossible to complete
Breach of contract from other parties

Question 3

8.1 what are the 2 common law remedies

Answer 3

Damages
An action for price

Question 4

8.1 What is an example of equitable remedy ?

Answer 4

A specific performance where a party is ordered to carry out the terms of the contract

Question 5

8.2.1: what is discharge by agreement ?

Answer 5

The parties of the contract may agree to bring the contract to an end before obligations have been completed

Question 6

8.2.1.1: what is bilateral agreement to discharge ?

Answer 6

This is where neither party has completed their obligations neither the contract and they both agree to release each other from completing the contract

Question 7

8.2.1.2: what is the unilateral agreement to discharge ?

Answer 7

This is where one party performs all the act of the obligations and the other party has not but wishes to be released from the obligation
- This can be done by consideration and that agreement is called an accord and the supply of consideration called a satisfaction