ACCA F4 公司法 讲义 -----chapter 9 Discharge of Contract.pptVIP

1 Ways by which contract may be discharged 2 Discharge by performance 3 Discharge by agreement 4 Discharge by frustration 5 Discharge by operation of law 1 Ways by which contract may be discharged (1) Discharge by performance (2) Discharge by agreement (3) Discharge by frustration (4) Discharge by operation of law 2 Discharge by performance 2.1 Normal way of performance (1) Depending on nature of the contract: Services rendered Goods delivered Cash paid Or their combination (2) This is the ideal way of discharge a contract. 2.2 Tender of performance (1) In the form of legal tender: silver coin $10, (2) It is OK whether accepted or rejected by other party. Case illustration: S agrees to sell $ 1000 worth of flour to B, cash on delivery. Before delivery flour price rises substantially. S wants to avoid the contract and hearing a rumor that B is in financial difficulty. He uses this as pretext for terminating contract. B of course wishes to go through with the deal at agreed price. B takes the contract to the bank and borrows sufficient cash in legal tender. B then tenders the money to S in the presence of C. If S doesn’t deliver flour, B may sue S for breach of contract. 3 Discharge by agreement 3.1 Waiver 3.2 Substituted agreement (1) Material alteration of the terms (2) Accord and satisfaction: si liao (in Chinese) (3) Novation: third party steps in 3.3 Contract term provides for its own dissolution (1) Condition precedent Case illustration: A located in Moncton writes to B in Winnipeg offering him a good position. B replies by letter that he will take it if A will first find satisfactory living accommodation for his family. A accepts B’s counter offer by mail. A’s act of finding specified living accommodation is a condition precedent. (2) Condition subsequent Case illustration: Norton, holder of a baseball season’s ticket, got the tickets on the terms that he must watch his conduct at games due to some of his habits known to the management. He attended