Part 1: Discharge

Question 1

What are the four main ways that contracts can be discharged?

Answer 1

1. By performance - when both parties have done what they promised to do
2. By breach - when one party fails to perform (majority) so the other is entitled to end it
3. By agreement - when parties agree that they both wish to be discharged from obligations
4. By frustrations - when something happens which makes performance of contract impossible.