Contract Law - The Discharge of Contracts - Discharging a contract by agreement Another way of discharging a contract. 3.0 / 5 based on 1 rating ? LawOtherAll boards Created by: EmmaCreated on: 01-06-09 08:56 If neither party performs their contractual obligation what can they do? End the contract by promising each other not to enforce the contract 1 of 5 What do mutual promises provide? Consideration 2 of 5 What is the 'accord'? The agreement between the parties that one shall be released from his obligation 3 of 5 What is the 'satisfaction'? The consideration which makes the new agreement operative 4 of 5 In such a case, will consideration be required? No, the party's promise not to enforce his legal rights is sufficient "consideration" 5 of 5
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