6 Various modes in which a contract may be discharged.

 Discharge of Contracts - Discharge of Contract means the end of a contractual relationship between two parties. cause of discharge of contract- 

1. Act of parties     

2. operation of law

various modes :- 

1. by mutual consent 
2. By performance 
3. By novation 
4. By waive 
5. By supervening impossibility 
6. discharge by Breach 

DISCRIPTION -

    1. BY MUTUAL CONSENT :- Contract is made by an agreement between two parties, the parties may agree to put an end to their relationship. 

2. BY PERFORMANCE :- If if parties to a contract- perform their respective obligations. their contractual relationship comes to' an end. when a party to a contract has refused to perform or disabled himself from performing his promise in its entirety the other party may put an end to the contract unless he has signified, by words or conduct, his acquiescence in its continuance. 

3. BY NOVATION :- Novation may take place in three  ways 

   (a) The parties to a contract may agree to substitute a new contract in the place of a subsisting contract. the subsisting contract is discharged. they can enforce only the new contract .

   (b)  A party to a contract may agree to take a lesser sum for a larger sum, the contract for, the larger sum comes to an end. this is in effect a variation in the terms of the contract. 

(c) one of the parties may agree to take the obligation from another. this requires the concurrence of all the three person. 

                   

4. BY WAIVE:-  waiver occurs when a party to a contract gives up his right under a contract. waiver may be express or implied in the conduct of the party waiving his right. 

5. BY SUPERVENING IMPOSSIBILITY:- A contract may be discharged by supervening impossibility, The contract, the time was when entered into the contract was capable to perform, but this time become impossible to perform. The contract becomes void. 

6. DISCHARGE BY BREACH :- It is not strictly correct to say that a contract is discharged by the breach of it. Discharge puts an end to their relationship. but when a party to a contract breaks his obligation, a right of action is conferred upon the other party. the injured party may, if he chooses absolve himself from the performance of his obligation. He may also insist on the performance of the contract. 

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