What is a discharge of contract?

A discharge of contract is a legal term that describes when two parties have fulfilled their obligations as outlined in the contract and have been released from them. In other words, when a contract is discharged, the parties are no longer bound to the terms and conditions of the contract. In California, a contract may be discharged in several ways. A contract may be discharged by performance, which means that both parties have completely fulfilled their contractual obligations. This can also include a partial performance if the full performance of the contract is impossible. A contract may also be discharged by agreement, which means that both parties agree to end the contract. This is usually done through a mutual agreement in writing or through an oral agreement. An agreement to discharge a contract can also come in the form of a settlement agreement. Finally, a contract can be discharged by operation of law, which means that courts determine that a party is no longer bound to the contract. This may occur if there are changes in laws or regulations that make the contract unenforceable or if one party breaches the contract. In any case, a discharge of contract in California is a way for parties to resolve an agreement and free themselves from the terms and conditions.

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What is a discharge of contract?

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