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Discharge of Contracts (Modes (By Impossibility (S. 56), By Agreement (Ss.…
Discharge of Contracts
Modes
By Impossibility (S. 56)
By Agreement (Ss. 62-67)
By Performance (Ss. 31-67)
By Breach (Ss. 39 & 73)
Contingent Contracts
A conditional Contract with
uncertain
Condition
Types of
Conditions
Future Uncertain event
Past event
Parties don't know 'which way' it happened
Conditions for Contingency
Contingency to be
Collateral
to a contract
Contract already exists
E.g.
To pay on loss of ship
Differ form those cases where performance ensures contract
E.g.
Reward to find lost dog
Contingency depending upon will of a person
Contingency a condition precedent
Its Failure
Non- Happening of uncertain event
Differ from
Impossibility
Happening of unanticipated even
Conditional Contracts
Contract subject to a certain condition