What is a discharge of contract?

A discharge of contract is when two parties of a contract agree to end their obligations to the contract. This can be voluntary or involuntary. In Washington, the laws surrounding discharge of contract involve a few main elements. Voluntary discharges happen when the two parties agree to end the contract. This can happen through mutual agreement, which means both parties make a conscious decision to terminate the contract. Or, it can happen through mutual consent, which means one party makes a request and the other party agrees to it. Involuntary discharges can be caused by breach of contract, which happens when one party does not fulfill their end of the obligations of the contract. The other party can then decide to end the contract because of this breach. Also, discharges can happen through impracticability, which is when certain factors arise that make it impossible or unprofitable for one of the parties to continue with the contract. A release of contract is also an involuntary discharge, which happens when the parties mutually agree to end the contract. This does not have to involve a breach of contract, but the parties must both agree to it for it to be released. Lastly, termination by operation of law is when a court-ordered ruling ends the contractual agreement between the two parties. Discharge of contract is an important concept in contract law in Washington because it defines how to end a contract and how to ensure that both parties are held responsible for fulfilling their obligations.

Related FAQs

What is the Statute of Frauds applicable to?
What is the Statute of Limitations?
What is a promissory note?
What is the standard of care in a contract?
What is a liquidated damages clause?
What is the common law?
What are standard form contracts?
What is an assignment of a contract?
What is a novation of a contract?
What is a conforming acceptance?

What is a discharge of contract?

Related FAQs

Related Blog Posts