1. INTRODUCTION:

The contract is the result of mutual agreement between two or more parties. Similarly, the parties to the contract may agree to terminate the contract.

2. DROP SECTIONS:

Articles 62 to 67 of the Contract Law of 1872.

3. CONTRACTS THAT SHOULD NOT BE EXECUTED:

The following are the circumstances in which it is not necessary to execute any original contract duly executed.

(I) TERMINATION BY AGREEMENT:

If the parties to the contract agree to the novation, termination or alteration, it is not necessary to perform the original contract. In such cases, the original contract disappears and is replaced by a new contract.

(a) Novation:

When the parties to a contract agree to substitute a new contract for a contract, that is called a novation.

(i) Types:

(a) A novation involving a change of parties, (a) A novation involving the substitution of a new contract in place of the old contract.

(b) Termination:

When all or some of the terms of the contract are cancelled. the contract is said to have been terminated.

(i) Termination methods:

Recurrence may occur.

a) By mutual consent of the parties.

(b) When one of the parties does not fulfill its contractual obligation, the other party may terminate the contract.

(C) Alteration:

When one or more of the terms of the contract are modified by the actual consent of the parties, the contract is said to be modified.

> Example:

A promises to supply certain goods to B one year after the date. At that time goods go out of style. A and B mutually cancel the contract. A is not necessary to execute the contract.

(II) REMISSION BY FIANCÉ:

Dry. 63 establishes that a person who has the right to demand the execution of the contract can:

(a) remit or dispense in whole or in part or

(b) extend the execution time or

(c) accept any other satisfaction in lieu of payment of the entire debt.

> Example:

A owes B Rs – 10000. A pays B and B accepts Rs 5000 as full settlement of the debt of Rs – 1000. The previous debt is cancelled.

(III) CANCELABLE CONTRACT:

When a person at whose option a contract is voidable terminates it, the other party need not keep any of the promises contained therein. in which it is promising.

> Example:

A promises to buy certain goods from B under Fraud. B can avoid a contract if B rejects a contract. A is not necessary to execute the contract.

(IV) REFUSAL TO ACCEPT EXECUTION:

If any promisee neglects or refuses to give the promisor reasonable facilities for performance of his promise, the promisor is held harmless for such negligence or negates any loss due to breach caused thereby.

> Example:

A contract with B to repair BB’s building neglects or refuses to point out to A where the building requires repair. A excuses himself for breach of contract. If it is caused by such negligence or refusal.

4. CONCLUSION:

In conclusion, may I say that under the Contracts Act of 1872, there are some circumstances where it is not necessary to execute an original contract duly entered into by the parties. For example, by agreement of the parties, voidable contracts, etc. etc. Fulfillment of a legal obligation in a contract is called performance of the contract. Chapter VI of the Contract Law deals with the execution of contracts.