Question

Mark completes his due diligence on the house, obtains financing from a lender, and is now on his way to the closing. What is the ideal way to discharge the sales contract? on the house, obtains financing from a lender, and is now on his way to the closing. What is the ideal way to discharge the sales contract?

Answer 1

The performance of a contract is the most common method of its discharge. Actual Performance: – When both parties make their promises, the contract is terminated. The performance must be complete, accurate and as per the terms of the agreement.

b. Mutual agreement of the parties. Both parties agree to terminate the contract.

Step-by-step explanation:

a. Full performance. The two parties close on the house as per the sales contract.

b. Mutual agreement of the parties. Both parties agree to terminate the contract.

c. Operation of law. A judge requires specific performance from the seller.

d. Impossibility of performance.