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On the valid performance of the contractual obligations by the parties, the contract
- a)Is discharged.
- b)Becomes enforceable.
- c)Becomes void.
- d)None of these.
Correct answer is option 'A'. Can you explain this answer?
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On the valid performance of the contractual obligations by the parties...
When contractual parties fulfill their respective obligations A contract is said to be discharged.
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On the valid performance of the contractual obligations by the parties...
Discharge of Contract:
- When the parties involved in a contract fulfill their respective obligations as per the terms and conditions agreed upon, the contract is considered to be discharged.
- This means that both parties have completed their duties and the contract comes to an end.
- Once a contract is discharged, the parties are no longer bound by its terms and are free from any further obligations towards each other.
- Discharge of contract can occur through performance, agreement, breach, frustration, or operation of law.
Therefore, in the given scenario where the parties have validly performed their contractual obligations, the correct answer is option 'A' - the contract is discharged.
- When the parties involved in a contract fulfill their respective obligations as per the terms and conditions agreed upon, the contract is considered to be discharged.
- This means that both parties have completed their duties and the contract comes to an end.
- Once a contract is discharged, the parties are no longer bound by its terms and are free from any further obligations towards each other.
- Discharge of contract can occur through performance, agreement, breach, frustration, or operation of law.
Therefore, in the given scenario where the parties have validly performed their contractual obligations, the correct answer is option 'A' - the contract is discharged.
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On the valid performance of the contractual obligations by the parties, the contracta)Is discharged.b)Becomes enforceable.c)Becomes void.d)None of these.Correct answer is option 'A'. Can you explain this answer?
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