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Performance of Contract: Offer To Perform

Performance of a contract involves both parties fulfilling their obligations under the contract within the agreed upon time and manner. A valid tender, or offer of performance, must be unconditional, for the full quantity, by someone able and willing to perform, made at the proper time and place, and allowing for inspection. A contract does not need to be performed if performance becomes impossible, the parties agree to alter or rescind it, the promisee excuses performance, or it is illegal. A promisor, their agent, legal representatives, or third parties can perform the contract. Joint promisors may be compelled to individually perform or seek contribution. Only the promisee or their legal representatives can demand performance. Unless otherwise specified, simultaneous performance of

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Pallabi Pattanayak
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64 views

Performance of Contract: Offer To Perform

Performance of a contract involves both parties fulfilling their obligations under the contract within the agreed upon time and manner. A valid tender, or offer of performance, must be unconditional, for the full quantity, by someone able and willing to perform, made at the proper time and place, and allowing for inspection. A contract does not need to be performed if performance becomes impossible, the parties agree to alter or rescind it, the promisee excuses performance, or it is illegal. A promisor, their agent, legal representatives, or third parties can perform the contract. Joint promisors may be compelled to individually perform or seek contribution. Only the promisee or their legal representatives can demand performance. Unless otherwise specified, simultaneous performance of

Uploaded by

Pallabi Pattanayak
Copyright
© © All Rights Reserved
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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Performance of Contract

Performance of a contract takes place when the parties to the contract fulfill their obligations arising under the contract within the time and in the manner prescribed. Offer to Perform Tender Requisites of a valid tender It must be unconditional It must be of the whole quantity contracted for It must be by a person who is in a position/willing to perform It must be made at the proper time and place It must be made to the proper person It must give a reasonable opportunity to the promisee for inspection of the goods

Contracts which need not be performed


In the following cases a contract need not be performed. Performance becomes impossible Parties to it agree to substitute a new contract/to rescind/alter it Promisee dispenses with or remits , wholly or in part ,the performance of the promise made to him /extends the time for such performance Promisee neglects/refuses to afford the promisor reasonable facilities for performance Person at whose option it is avoidable, rescinds it It is illegal

By whom must Contract be performed


Promisor himself Agent Legal representatives Third persons Joint promisor

Devolution of joint liabilities and rights

Any one of the joint promisors may be compelled to perform A joint promisor compelled to perform may claim contribution Sharing of loss arising from default

Who can demand performance


The promisee only can demand performance of the promise under a contract. In case of death of promisee. His legal representatives can demand performance.

Time and place of performance


No application is to be made and no time is specified Time is specified and no application is to be made Application for performance on a certain day and place Application by the promisor to the promisee to appoint place Performance in manner or at time prescribed or sanctioned by the promisee

Reciprocal Promises
Defination: Promises which form the consideration or part of the consideration for each other are called reciprocal promises. Mutual and independent Conditional and dependent Mutual and concurrent

Rules regarding performance of reciprocal promises Simultaneous performance of reciprocal promises Order of performance Effect of one party preventing another from performing promise Effect of default as to promise to be performed first Reciprocal promise to do things legal
Time as the Essence of the Contract

Assignment of Contract
Assignment of a contract means transfer of contractual rights and liabilities under the contract to a third party with or without the concurrence of the other party to the contract. It may take place by: 1. Act of the parties 2. Operation of law

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