Detailed Answer
(a) The discharge of a contract can come about in several
ways. The first is by agreement. Accord and satisfaction
involves an agreed substitute for performance under the contract
(accord) and the actual performance of that substitute (satisfaction).
An agreement can also be entered into by three parties
whereby the previous agreement is discharged by the creation of
a new agreement (a novation). The second method of discharge
is by release of the contract or parties from performance. Another
method of discharging a contract is by performance of the
specified action becoming impossible, such as destruction of the
subject matter, or death of a party where personal service is necessary.
Lastly, breach of the contract discharges the injured party.
