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  • Performance of Contract

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    Amrita Patil
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    Performance of a contract occurs when all parties fulfill their contractual obligations in a timely manner as outlined in the agreement. Contracts do not need to be performed if their terms become impossible to achieve, if the parties mutually agree to end or alter the contract, or if one party with the option to void the contract chooses to do so. Contracts can be performed by the promisor, an agent, legal representatives, third parties involved in the agreement, or joint promisors involved in the contract.

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    Performance of a contract occurs when all parties fulfill their contractual obligations in a timely manner as outlined in the agreement. Contracts do not need to be performed if their terms become impossible to achieve, if the parties mutually agree to end or alter the contract, or if one party with the option to void the contract chooses to do so. Contracts can be performed by the promisor, an agent, legal representatives, third parties involved in the agreement, or joint promisors involved in the contract.

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    © All Rights Reserved
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    19 views3 pages

    Performance of Contract

    Uploaded by

    Amrita Patil
    Performance of a contract occurs when all parties fulfill their contractual obligations in a timely manner as outlined in the agreement. Contracts do not need to be performed if their terms become impossible to achieve, if the parties mutually agree to end or alter the contract, or if one party with the option to void the contract chooses to do so. Contracts can be performed by the promisor, an agent, legal representatives, third parties involved in the agreement, or joint promisors involved in the contract.

    Copyright:

    © All Rights Reserved
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    of 3

    Performance Of Contract

    Performance of contract takes place when the


    parties to the contract fulfill their obligations
    arising under the contract within the
    stipulated time and manner as prescribed.
    Contracts which need not be performed
    • When its performance becomes impossible.
    • When parties decide to rescind or alter it.
    • When the performance at whose option it is
    voidable, rescinds it.
    By whom must Contracts be
    performed
    1. Promisor himself
    2. Agent
    3. Legal Representatives
    4. Third Persons
    5. Joint promisors

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