Discharge: By Agreement, Operation of Law and Breach
Description
The lectures this week focus on factors that destroy the consent of a party to a contract and discharge. Consent is essential to contract formation as there is a need for consensus ad idem or a meeting of the minds of the parties. Where a party is coerced to consent to a contract, does the law view that consent as valid? Will the consent be of such a quality that will create a valid contract between the parties? The answers to these questions are considered.
In addition, circumstances under which parties are discharged from their obligations under a contract are also discussed. Where a valid contract exists, the law requires that the parties must perform their obligations, so the topic (Discharge) focuses on how obligations are performed and how are parties are discharged from performance.
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United States
In legal contexts, the dynamics of contractual relationships are often governed by three distinct concepts By Agreement Operation of Law, and Breach. These principles shape how obligations are formed and maintained between parties. By Agreement, parties voluntarily bind themselves to terms, as exemplified in contracts found at https://www.lawofficespace.com/. Conversely, Operation of Law can establish obligations without explicit consent, while Breach addresses the repercussions when commitments are not honored, leading to legal consequences.