Types Of Performance Of Contract

INTRODUCTION

Contracts can be defined as an agreement which creates obligations enforceable by law. It comprises of mutual consent, capacity, consideration and legality. in certain places , consideration is replaced by a valid substitute.

What is performance and discharge by performance ?

Performance in contract means execution of individual legal obligations by the parties to a contract.

Section 37 of The Indian Contract Act, 1872 states that “The parties to a contract must either perform, or offer to perform, their respective promises, unless such performance is dispensed with or excused under the provisions of this Act, or of any other law." Promises bind the representatives of the promisors in case of the death of such promisors before performance, unless a contrary intention appears from the contract”.

A contract is said to be discharged by performance when both parties perform their contractual obligation. Otherwise if any party do not fully perform their obligation then it amounts to breach of contract and another party is released from its obligations and can claim damages . Types of Performance of Contract.

As per Section 37, Performance are of two types:

Actual Performance – When the party perform what he has promised to perform, a contract is said to have been actually performed

Attempted Performance – when promisor offer

State Bank of Hyderabad” the judiciary held that “when a joint promise is established and there is no specific agreement to the contrary, the promisee can compel the joint promisors to perform the whole of the promise. And a joint promisor, who compelled to perform the whole of the promise, may require the other promisors to make an equal contribution towards the performance obligation unless there is a different intention coming from the agreement. If any of the promisors makes a default in such conditions, the remaining joint promisors has to bear the losses in equal