Contract Law - The Discharge of Contracts - Discharging a contract by agreement

Another way of discharging a contract.

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  • Created by: Emma
  • Created on: 01-06-09 08:56

1. Agreement to end a contract is a contract in itself and fulfil requirements for forming a valid contract (specific provision in the contract - parties agree it will end at the expiration of a fixed term)

  • True
  • False
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2. If neither party performs their contractual obligation what can they do?

  • Try and bring an action against the other for breach of contract
  • End the contract by promising each other not to enforce the contract
  • Nothing - just walk away from the contract

3. What do mutual promises provide?

  • Consideration
  • Offer
  • Acceptance

4. The other party in the contract who may have only partly completed his contractual promise but who is willing to 'pay' some other form of consideration in order to be 'released'

  • True
  • False

5. What is the 'accord'?

  • The agreement between the parties that one shall be released from his obligation
  • The consideration which makes the new agreement operative
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