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CPT Chapter Performance of Contract

CA CPT Exam  

With Bharat Gelani.Duration:4hrs 00min

Performance of ContractDuration (min:sec)
Promise-Performance  of Contract 
Introduction03:15
Promisor vs. Promisee04:16
What is Reciprocal Promise06:06
Types of Promise09:05
Alternate Promise - Legal & Illegal Promise04:25
Who can Perform 
Performance of Contract Overview01:59
Who can Perform13:17
Assignment vs. Succession10:33
Liability of Joint Promisor10:13
Rights of JP05:45
Summary - Who can Perform00:47
How to Perform 
How to Perform Contract -Overview04:49
Actual & Attempted Performance07:09
Conditions of Attempted Performance08:28
Refusal to Perform07:11
Discharge of Contract10:37
Mutual Agreement28:20
Quiz06:42
Impossibility of Performance18:19
Time of Performance06:52
Time Essence of Contract15:51
Summary Time Essence02:26
Place of Performance03:11
Quiz02:40
Summary on How to Perform Contract03:17
Incidental Topics 
Appropriation of Payment16:55
Restoration of Benefit05:01
Responsibility of Person Void Agreement07:04
Quiz11:34
Conclusion04:25
Total04:00:32

Notes

Reciprocal Promise

Act vs promise
Types of Promises:-
Mutual and Independent (Bike)
Conditional and dependent (Car - Booking)
Mutual and Concurrent (Cash Sales)
Alternate Promises : Legal & Illegal things

Liablity of Joint Promisors

(i) Compel any one
(ii) If releases one
(iii)If one pays -Contribution
(iv)Loss among joint Promisors
(v) In case of Death of Joint Promisors

Rights of Joint Promisees

Claim rest with all
On death his representative
Death of all their representative

Essential of Attempted Performance

Not responsible for not performance
Conditions
(i) Unconditional
(ii) Proper time & place
(iii) Whole Obligation
(iv) Opportunity to inspect

Performance of contract

Discharge by
Performance
Mutual Agreement
Impossibility of performance
Lapse of time
Operation of Law
Breach of contract
Accord & Satisfaction
Promisee’s Neglect

Time of Performance
Time mentioned - as per time
No time mentioned - reasonable time.
Hour not mentioned - Business hours eg. 10am to 5pm
What is reasonable time – depends on the fact of the case

Impossibility of Performance

Frustration/Impossible to perform - Void
Impossibility Existing at the time of contract
1. Known to both parties - Void
2. Unknown to both the parties - Void
3. Only Promisor - Void and Damages
Supervening Impossibility
unexpected event after the contract - Void

Time is Essence of Contract

Not performed on time - Voidable at the option of Promisee
If new time is agreed - Waive his right to cancel the contract
Time is not essence of contract
Not performed on time - Valid, claim compensation
Not performed even after reasonable time - Voidable at the option of Promisee
Time is essence or not - terms of contract & fact
ex- Mortgage monthly payment


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