Discharge of Contract Indian Contract Act | CA Foundation
Channel: Learning With Nirmal
Date: 2023-02-22

This video talks about the following topics
Discharge means termination of a contract. By discharge of contract, the 
rights and obligations of the parties come to an end
Discharge by Performance 
Performance means doing of that which is required by the contract.
Discharge by performance takes place when parties to the contract fulfil 
their obligations arising under the contract within the stime specified and in 
the manner prescribed. In such a case parties are discharged and the 
contract comes to an end.
But, if only one of the parties to the promise performs his obligation then he 
is only discharged and gets right to claim action against the other party who 
is gulty of breach
Discharge by Agreement or Consent 
The contract starts with an agreement which binds the parties so a further 
agreement can also discharge them. 
The rule says that a thing may be destroyed in the same manner it is 
constituted.
Discharge by agreement may be express or implied agreement or consent.
Types of Discharge by Agreement: 
a. Novation
b. Rescission
c. Alteration

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