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  • Discharge of a contract means termination of the contractual relations between the parties
  • Tender refers to an attempted performance
  • ƒNovation means substitution of new contract for the original one
  • ƒDischarge by rescission means termination of a contract
  • ƒRemission may be defi ned as the acceptance of a lesser sum of money where more is due
  • ƒA promise to give concession to the promisor in whatever form, is binding on the proisee even if it is without consideration
  • ƒNo consideration is necessary for waiver
  • ƒIf the contractual rights are not enforced within the specified limitation period, the court will not enforce the contract
  • ƒThe contractual liabilities which were created before insolvency shall be taken over by the Official Assignee and satisfied out of the assets available
  • ƒIf the alteration is of minor or clerical nature, the contract remains unaffected
  • ƒA breach of contract means the failure of a party to perform his obligations

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