What is a discharge of contract?

A discharge of contract is a legal way to end a contract in Virginia. It occurs when one or more parties agree to be released from their contractual obligations. This usually happens because the agreement is no longer feasible or all of the parties can no longer benefit from the contract. Discharging a contract is different from canceling a contract because, in a discharge of contract, the parties are no longer bound to the agreement, while canceling a contract simply stops the performance of the contract. A contract can be discharged in Virginia if there has been a breach of contract, if the contract has been met, if the terms of the contract are impossible to perform, if a party was not legally able to agree to the contract, or if the contract is voidable. A breach of contract occurs when one party does not fulfill their contractual obligations. This can alter the agreement and can be a valid reason to discharge the contract. For example, a contract between two parties that requires regular payments can be discharged if one of the parties has stopped making payments. The parties can also agree to terminate the contract and release each other from the contractual obligations. Discharging a contract can help settle any legal disputes and can help prevent court cases. It is important for both parties in a contract to understand the various ways a contract can be discharged in Virginia.

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