marketing research1 001
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Discharge of ContractDischarge of Contract
By PerformanceBy Performance
By Death of promisor(personal skill)By Death of promisor(personal skill)
By Refusing tender of performanceBy Refusing tender of performance
(promisor ready to perform but promisee(promisor ready to perform but promiseedoes not want him to do)does not want him to do)
By breach of contract(promisor refuse toBy breach of contract(promisor refuse toperform or does not perform his promise inperform or does not perform his promise inentirety, the promisee may end theentirety, the promisee may end thecontract)contract)
Breach of contract may be Actual(refusal)Breach of contract may be Actual(refusal)or Anticipatory(impossible)or Anticipatory(impossible)
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Performance of ContractPerformance of Contract
Parties to the contract must eitherperform or offer to perform theirrespective promises, unless such
performance is dispensed with or excusedunder the provision of this act.
A enters into a contract to sell his horse to B.A offers his horse to B. This is offer ortender of performance.
Responsibility of performance of contract lies onThe Promisor. The Legal representative, performance of promise by third person, performance of joint promises.
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Remedies for Breach of ContractRemedies for Breach of Contract Rescission or cancellation A singer contracts with B , the manager of theatre to sing at his theatre for two
nights in every week during the next two months and B agrees to pay her Rs 100 foreach night performance. On the sixth night A wilfully absents herself from the theatreand B in consequence rescinds the contract. B is entitled to claim compensation forthe damage which he has sustained through the non fulfillment of the contract.
Suit for Damages Damages is compensation in money as a substitute for the promised performance.
Purpose of Law of contract is compensation. Types of Damages may be ORDINARY,SPECIAL,VINDICTIVE, Nominal Damages( small Damages)
Suit for injunction Injunction are usually granted to restrain the wrongdoer from
continuing wrongful act complained of. Here damages are not
adequate relief. N, a film actress agreed to act exclusively for warner bros for 1
year. During the year she contracted to act for X. It was held thatshe could be restrained by an injunction from acting for X.
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Suit for specific performance
Compel through court order the partyguilty of breach of contract to performwhat was promised in case wheremonetary consideration is not an adequateremedy. In case of sale of Land court
order specific performance. Quantum meruit
It means as much as merited. Pay inproportion to the amount of work done.
In a case a contractor was prevented by the contractee from completingthe work after he had done a part of it, the contractor was entitled to getreasonable compensation for the work done in addition to the damages forbreach of contract as might be allowed by the court.