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Performance of Contract

Performance of Contract. Offer to Perform. Unconditional It must be for whole of quantities By proper person Proper time & place May be made to one of several joint promisees Tender of goods Tender of money. Effect of Refusal. Can repudiate May continue.

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Performance of Contract

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  1. Performance of Contract

  2. Offer to Perform • Unconditional • It must be for whole of quantities • By proper person • Proper time & place • May be made to one of several joint promisees • Tender of goods • Tender of money

  3. Effect of Refusal • Can repudiate • May continue

  4. When Contracts Need not be Performed • When performance becomes impossible • Agree to substitute a new contract or rescind • Extends time or dispenses • Voidable contract is rescinded • Promisee neglects or refuses to provide reasonable facilities

  5. By Whom the Contracts must be Performed • Promisor himself • Agent • Legal representation • Third persons • Joint promisors

  6. Devolution of Joint Liabilities and Rights • Any one of the joint promisors may be compelled • Joint promisors compelled to perform may claim contribution • Sharing of loss arising from default • Release of a joint promisor • Joint rights

  7. Time & Place of Performance • Where no application is to be made and no time is specified • Time is specified and no application is 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

  8. Reciprocal Promises • Mutual and independent • Conditional and dependent • Mutual and concurrent

  9. Rules Regarding Performance of Reciprocal Promises • Simultaneous performance • Order of performance • Effect of one party preventing • Effect of default • Reciprocal promises to do legal and illegal

  10. Time as the Essence of the • When time is the essence • When time is not the essence • Subsequent notice

  11. Appropriation of Payments • Debtor intimates • Debtor does not intimate • Debtor does not intimate and creditor does not appropriate

  12. Assignment of Contract • Act of the parties • By law

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