SelLecture 8 - 2010 - TERMINATION OF CONTRACTS LECTURE 8...

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TERMINATION OF CONTRACTS LECTURE 8
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Termination/Discharge of Contracts
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(1) DISCHARGE BY PERFORMANCE Essentially under a contract both parties undertake to do something. Once that something is done, we say the contract comes to an end by performance. How can the following contracts come to an end by performance: - Contract to study in NUS, - Contract relating to the booking of a restaurant for a wedding dinner. If a contract comes to an end by performance, but subsequently it is discovered that there has been some
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Complete Performance One related issue that often arises is this: If one party has not completely performed his obligations, is he entitled to payment for the part that he has managed to complete? Eg: if a painter agrees to paint the whole house for $10,000, but only manages to paint the grills, is he entitled to be paid for painting the grills? The general answer is “___”. Why is this
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Complete Performance
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(2) DISCHARGE BY AGREEMENT A contract may come to end before its expiry, by agreement between the parties. This can come about in one of 2 ways: (a) Original contract provides for it. (b) Original contract does not provide for it, but parties subsequently agree to terminate.
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for it The original contract may provide that one or either party may terminate the contract, typically without having to give any reason and without incurring any liability. If one party exercises that right and the contract comes to an end, we say that the contract has come to end by agreement.
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2(a) Original Contract Provides for it In some situations, the original contract may have an express clause allowing such earlier termination.
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for it In some situations, there may not be an express clause, but there may be an implied clause allowing such earlier termination. Sometimes, the implied clause may
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SelLecture 8 - 2010 - TERMINATION OF CONTRACTS LECTURE 8...

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