Performance of contract

Performance of contract,

Definition of Performance of contract:

  1. Execution of a contract by which the contracting parties are automatically discharged (see discharge of contract) of their obligations under it. Although contracts usually call for full and precise performance, a substantial performance may be acceptable under certain circumstances, on a pro rata basis, or on payment of damages for the unfinished or defective performance.

Meaning of Performance of contract & Performance of contract Definition