Ch 30Performance of Contract — Class 11 Commerce, concept-first.

A contract exists so that its promises are eventually carried out. Performance of a contract means each party fulfilling the obligation they undertook under the agreement — the seller delivering the g…

Actual performance discharges the promisor of their obligation completely — once goods are actually delivered and accepted as agreed, that part of the contract is over.

Who is bound to perform, and who is entitled to demand performance, depends on the nature of the promise and of the promisor.

Where no time is specified and the promise does not require a demand: the engagement must be performed within a reasonable time, a question of fact depending on the circumstances of each case.

Section 2(f) defines reciprocal promises as promises which form the consideration, or part of the consideration, for each other — most ordinary contracts are made up of such promises (e.g.

Sections 62–67 of the Act recognise several situations in which a contract can be discharged, and thereby need not actually be performed, by the parties' own agreement rather than by their carrying ou…

Sample papers and previous-year board questions for this subject.