1. INTRODUCTION:
The contract is the result of mutual agreement between two or more parties. Similarly, the parties to the contract may agree to terminate the contract.
2. FALLING SECTIONS:
Articles 62 to 67 of the Contract Law of 1872.
3. CONTRACTS THAT SHOULD NOT BE PERFORMED:
The following are the circumstances in which it is not necessary to perform any duly executed original contract.
(I) TERMINATION BY AGREEMENT:
If the parties to the contract agree to the novation, termination or alteration, it is not necessary to fulfill the original contract. In such cases, the original contract disappears and is replaced by a new contract.
(a) Novation:
When the parties to a contract agree to substitute a new contract for a contract, it is called a novation.
(i) Types:
(a) A novation that implies a change of parties, (a) A novation that implies the substitution of a new contract instead of the old contract.
(b) Termination:
When all or some of the terms of the contract are cancelled. the contract is said to have been terminated.
(i) Ways of termination:
Recurrence may occur.
a) By mutual consent of the parties.
(b) When one of the parties fails to fulfill its contractual obligation, the other party may terminate the contract.
(C) Alteration:
When one or more of the terms of the contract are modified by actual consent of the parties, the contract is said to be modified.
> Example:
A promises to supply certain goods to B one year from the date. At that time goods go out of style. A and B mutually cancel the contract. It is not necessary to execute the contract.
(II) REFERRAL BY PROMISE:
Dried. 63 establishes that a person who has the right to demand the performance of the contract may:
(a) remit or dispense in whole or in part or
(b) extend the execution time or
(c) accept any other satisfaction instead of the fulfillment of the totality of the debt.
> Example:
A owes B Rs – 10,000. A pays B and B accepts Rs 5,000 as full settlement of the debt of Rs – 1,000. The previous debt is cancelled.
(III) CANCELLABLE CONTRACT:
When terminated by a person at whose option a contract is voidable, the other party need not fulfill any of the promises contained therein. in which it is promising.
> Example:
A promises to buy certain goods from B under Fraud. B can avoid a contract if B rejects a contract. It is not necessary to execute the contract.
(IV) REFUSAL TO ACCEPT THE EXECUTION:
If any promisee neglects or refuses to give the promisor reasonable facilities for the performance of its promise, the promisor is released from such negligence or denies any loss due to default caused by it.
> Example:
A contract with B to repair BB’s building neglects or refuses to point out to A the places where the building requires repair. A apologizes for the breach of contract. If caused by such negligence or refusal.
4. CONCLUSION:
To conclude, I can say that under the Contracts Act 1872, there are some circumstances in which it is not necessary to perform an original contract duly entered into by the parties. For example, by agreement of the parties, voidable contracts, etc. etc. The fulfillment of the legal obligation in a contract is called performance of the contract. Chapter VI of the Contract Law deals with the execution of contracts.