p. 23710. Ending the Contract
- James MarsonJames MarsonReader in Law and Head of Research for Law, Sheffield Hallam University
- , and Katy FerrisKaty FerrisAssociate Professor in Business Law, Nottingham University
Abstract
This chapter discusses other ways in which a valid contract may be discharged, aside from the successful completion of established rights and duties. It also discusses possible remedies where a party breaches the contract. Under the normal rules of contract, a party is only discharged from a contract when that party has completed obligations under it. Having completed the contract each party is free of further obligations. A failure to complete the contract may lead to a breach of contract claim, although situations exist where the parties may release each other from further obligation—referred to as discharge by agreement—or the contract may have been partially or substantially performed. This chapter examines discharge through performance and agreement, how contracts may become frustrated, and the consequences and remedies following a breach of contract.
