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Discharge of Contract. Modes of Discharge of Contract By Performance By Agreement Impossibility of Performance Lapse of Time Operation of Law Breach of.

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Presentation on theme: "Discharge of Contract. Modes of Discharge of Contract By Performance By Agreement Impossibility of Performance Lapse of Time Operation of Law Breach of."— Presentation transcript:

1 Discharge of Contract

2 Modes of Discharge of Contract By Performance By Agreement Impossibility of Performance Lapse of Time Operation of Law Breach of Contract

3 By Performance Actual Performance Attempted Performance

4 By Agreement Novation Rescission Alteration Remission Waiver Merger

5 By Impossibility of Performance At the time of Agreement -Known to the parties -Unknown to the parties Subsequent to Contract (Supervening Impossibility) -Destruction of Subject Matter -Non-existence of a particular state of things -Death or incapacity -Change of law or stepping of a statutory authority

6 Impossibility of Performance- Not an Excuse Difficulty of Performance Commercial impossibility Failure of a third person Strikes, lock-out and civil disturbance Failure of one of the object

7 By Lapse of Time Limitation act

8 By Operation of Law By Death By Merger Insolvency Unauthorized alteration Rights and liabilities vested in the same person

9 By Breach of Contract Actual Anticipatory


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