DISCHARGE OF CONTRACTS

INTRODUCTION As per the Indian Contract Act, 1872, discharge of contract means “termination of contractual relationships between the parties”. The term “discharge of contract” refers to the end of the parties’ contractual relationship. When a contract ceases to operate, i.e. when the rights and responsibilities generated by it expire, it is said to be discharged. Contracts do not have to be fulfilled under the following circumstances: If the parties to a contract agree to Novation, Rescission, or Alteration, the original contract does not have to be performed, according to Section…