Discharge of contract -1

A contract can be discharged by:

• Mutual agreement and performance

• Lapse of time and operation of law

• Breach of contract

• All of these

Answer explanation

A contract may come to an end on account of mutual agreement and performance, lapse of time and operation of law and breach of contract. Hence, option (d) is the correct answer.

If a new contract is substituted in place of an existing contract it is called

• Alteration

• Rescission

• Novation

• Waiver

The original contract need not be performed if there is

• Alteration of contract

• Novation

• Rescission of contract

• All of these

When an inferior right accruing to a party in a contract merges into a superior right accruing to the same party, then:

• The contract conferring the superior right is discharged

• The contract conferring the inferior right is discharged

• None of the contracts are discharged

• Both contracts are discharged

A lets out a theatre to B for a series of drama for certain days. The theatre was completely destroyed by fire before the scheduled dates. In the case the contract is

(a)  

P, a resident of USA agrees to export leather bags to Q, a resident of Afghanistan. Meanwhile before the order can be executed, war broke out between USA and Afghanistan.

• P must execute the contract

• The agreement becomes voidable at the instance of Q.

• The agreement becomes void due to Supervening impossibility

• None of the above.