![]() ![]() In the case of an actual breach, the promisee retains his right of action for damages. ![]() Actual Breach: It refers to the failure to perform contractual obligation when performance is due and during the performance of the contract.Corporation,it was held that even in good faith also in terms of the contract, no material alteration can be made by a party without the consent of the other.īreach of contract means failure to perform contractual obligation by either of the parties without any lawful excuse, the contract discharged because it is a ground for discharge of a contract. In the case of United India Insurance Co. When one or more of the terms of the contract is/are altered by mutual consent of the parties to the contract, is called as alteration of a contract. A novation involving substitution of a new contract in place of the old.A novation involving change of parties.Jardine, the meaning and effect of novation are explained by Lord Selborne. When the parties to a contract agree to substitute the existing contract with a new contract, that is called novation. There are six types through which discharge of contract through agreement or consent could take place are mentioned below: Section 62 of the Indian contract, 1872 provides that “if the parties to a contract agree to substitute a new contract for it, or to rescind or alter it, the original contract need not be performed” under the heading- Effect of novation, rescission and alteration of contract. Attempted Performance(tender or offer of performance): When the promisor attempts to perform his promise, the promisee refuses to accept the same, it is known as tender or attempted performance.Actual Performance: Under the contract, when all the parties to a contract do what they had agreed for, it is known as actual performance.It is called as natural mode of discharge. When the respective parties of the contract perform their shares of the promises, it is said to be the contract is discharged. The various modes of discharge of contract or the different ways are as follows: Discharge of contract refers to the way in which it comes to an end.
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