performance of a contract include 1) performance of a single promise 2)

performance of joint promises these may include a) who may perform define
each of these shortly
Performance of a contract refers to the fulfillment of obligation and
promises agreed upon by the parties involved in the contract. There are two
types of performance:

1. Performance of a single promise: This refers to the fulfillment of a single

promise made under the contract. For example, a contract between a buyer
and seller for the sale of a specific product would be fulfilled by the seller
delivering the product to the buyer.
2. Performance of joint promises: This refers to the fulfillment of multiple
promises made under the contract by both parties. It can be further divided
into two categories:

a) Simultaneous performance: This occurs when both parties fulfill their

respective obligations at the same time. For example, in a contract for the
sale of goods, the buyer pays for the goods and the seller delivers them
simultaneously.

b) Sequential performance: This occurs when one party's performance is

dependent on the other's. For example, in a contract for construction of a
building, the builder must complete the foundation before the owner can
make the next payment.

In terms of who may perform, the parties to the contract themselves are
typically responsible for fulfilling their own obligations under the contract.
However, in some cases, the parties may delegate their obligations to a
third party, such as a subcontractor, with the agreement of the other party.
Define the following shortly according to business law 1) assignment of contract
2) order of performance of reciprocal promises 3)time and place of performance
4)effect of failure to perform a contract 5) mode of performance 6) contract,
which need not to be performed
1. Assignment of contract: The transfer of rights and obligations of one party
under a contract to another party.
2. Order of performance of reciprocal promises: The order in which parties must
perform their respective promises under a contract.
3. Time and place of performance: The specific time and location at which parties
must perform their obligations under a contract.
4. Effect of failure to perform a contract: The consequences of failing to fulfill
obligations under a contract, which may include damages, termination of the
contract, or legal action.
5. Mode of performance: The method or manner in which parties must perform
their obligations under a contract.
6. Contract which need not be performed: A contract that is discharged upon its
formation, meaning that no further performance is required by either party. An
example of such a contract is a unilateral contract, where one party makes a
promise in exchange for a specific act or performance by the other party, and once
that act or performance is completed, the contract is discharged.
Give business NUMERICAL example of each of these contract with proper
business specification.1) assignment of contract 2) order of performance of
reciprocal promises 3)time and place of performance 4)effect of failure to
perform a contract 5) mode of performance 6) contract, which need not to be
performed.
Sure, here are some numerical examples of each of these concepts:

1. Assignment of contract: A construction company has a contract to build a house

for a homeowner. The construction company decides to assign the contract to
another builder due to financial difficulties. The homeowner agrees to the
assignment, and the new builder takes over the project and assumes all obligations
and responsibilities under the contract.
2. Order of performance of reciprocal promises: A software company has a
contract with a client to develop a new software application. The contract specifies
that the client must provide necessary data for the project before the software
company can begin development. The client provides the data as required, and the
software company begins development, with a timeline that specifies certain
milestones that must be achieved before the client must provide further information
or payments.
3. Time and place of performance: An event management company has a contract
with a client to organize a corporate conference on a specific date and at a specific
venue. The event management company arranges for the necessary equipment,
staff, and logistics to ensure the conference runs smoothly, and the client provides
 the necessary payments and information to ensure the conference meets their
requirements.
4. Effect of failure to perform a contract: A manufacturing company has a contract
with a supplier for the timely delivery of raw materials for their production
process. The supplier fails to deliver the raw materials on time, causing significant
delays in the manufacturing process and financial losses for the manufacturing
company. The manufacturing company may seek legal action for breach of
contract and may be entitled to damages.
5. Mode of performance: A transportation company has a contract with a client to
deliver goods to a specific location. The contract specifies that the goods must be
transported by air. The transportation company arranges for the necessary air
transportation and ensures the goods are delivered to the specified location on time.
6. Contract which need not to be performed: A company offers a reward to anyone
who finds a lost item belonging to the company. A member of the public finds the
item and returns it to the company. The company is not obligated to perform any
further action or provide any further compensation to the member of the public, as
the contract was discharged upon the performance of the act of finding and returning the lost
item.