A contract in which all parties to the contract have carried out their obligation is said to be terminated by

JAMB Commerce 2024 132 views
Source: JAMB · 2024

A contract in which all parties to the contract have carried out their obligation is said to be terminated by

  1. breach of contract
  2. frustration
  3. operation of the law
  4. performance ✓
Explanation

When everyone does what they promised in a contract, it ends by performance.

The seller delivers goods, the buyer pays – contract complete.

Breach means someone broke the agreement. Frustration means something made it impossible.

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