Performance Of Contract
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TENDER OF PERFORMANCE Section 38 When the parties to a contract offer to perform their respective promises, it is a tender or offer of performance. ESSENTIALS OF A VALID TENDER OF PERFORMANCE 1. 2. 3. 4. 5.
It should be of a proper quality It should be of proper quantity It should be at a proper place It should be at a proper time It should be unconditional
ANTICIPATORY BREACH OF CONTRACT Section 39 Where a party to a contract has refused to perform or has disabled himself from performing his promise in its entirety, the promisee may put an end to the contract, unless he has signified by words spoken or written or by conduct his acquiescence in its continuance.
DOCTRINE OF FRUSTRATION 1. 2. 3.
PARADINE V/S JANE SUPERVENING IMPOSSIBILITY CASES a) Destruction of subject matter b) Non occurrence of expected events c) Govt. regulations
4. EFFECTS OF FRUSTRATION 1) Future obligations are put to an end 2) In respect of obligations already incurred, a right of compensation accrues to the party performing the obligations
DOCTRINE OF NOVATION
SECTION 62 The parties to the contract may agree to substitute a new contract for it or to rescind or alter it. The original contract need not be performed. Consent of parties to the old as well as new contract is necessary.
It should be of a proper quality It should be of proper quantity It should be at a proper place It should be at a proper time It should be unconditional
ANTICIPATORY BREACH OF CONTRACT Section 39 Where a party to a contract has refused to perform or has disabled himself from performing his promise in its entirety, the promisee may put an end to the contract, unless he has signified by words spoken or written or by conduct his acquiescence in its continuance.
DOCTRINE OF FRUSTRATION 1. 2. 3.
PARADINE V/S JANE SUPERVENING IMPOSSIBILITY CASES a) Destruction of subject matter b) Non occurrence of expected events c) Govt. regulations
4. EFFECTS OF FRUSTRATION 1) Future obligations are put to an end 2) In respect of obligations already incurred, a right of compensation accrues to the party performing the obligations
DOCTRINE OF NOVATION
SECTION 62 The parties to the contract may agree to substitute a new contract for it or to rescind or alter it. The original contract need not be performed. Consent of parties to the old as well as new contract is necessary.
