ABSTRACT
This chapter examines that parties to a contract have performed their obligations, the contract is completely discharged. It discusses what is sufficient to amount to performance. The general rule is that performance of a contract must be precise. A party who performs a contract exactly according to its terms will be discharged from further performance. In an entire contract, complete and exact performance of the contract is provided to be a condition precedent to payment of the contract price. The parties to a contract often prescribe the time for performance of contractual obligations. If no time is specified, obligations must normally be performed within a reasonable time. As a general rule, where performance cannot be completed without the concurrence of the other party, tender of performance, which is refused, is equivalent to actual performance and discharges the party tendering from further obligation and entitles his to damages for breach of contract.
