When it comes to contracts, there are several ways in which they can be terminated or discharged. One of these ways is through operation of law. This means that the contract is terminated as a result of legal reasons, and not because the parties involved decided to end it themselves. There are several methods of discharge of contract by operation of law, but one of the following is not one of them.
1. Impossibility of performance: This occurs when the performance of the contract becomes impossible, either due to a change in circumstances or an unforeseen event. For example, if a contract is made to supply goods that are destroyed in a fire before they can be delivered, the contract is terminated by operation of law.
2. Frustration of purpose: This occurs when the original purpose of the contract no longer exists or cannot be fulfilled due to unforeseen circumstances. For example, if a contract is made for a concert to be held at a specific venue, but the venue is destroyed by a natural disaster before the concert can take place, the contract is terminated by operation of law.
3. Breach of contract: This occurs when one party fails to fulfill their obligations under the contract, such as failing to deliver goods or services as promised. The other party can then terminate the contract by operation of law and seek damages for the breach.
4. Rescission: This occurs when both parties agree to terminate the contract, usually because of a mistake or misrepresentation made during the formation of the contract. For example, if a contract is made to purchase a car, but the buyer later discovers that the car has significant mechanical problems that were not disclosed at the time of the sale, both parties may agree to rescind the contract.
5. Assignment: This occurs when one party transfers the rights and obligations under the contract to another party without the consent of the other party. This can result in the contract being terminated by operation of law, as the new party may not be able to fulfill the obligations under the contract.
So which of these is not a method of discharge of contract by operation of law? The answer is actually none of them. All of these are valid methods of terminating a contract through operation of law, and it is important to understand each one in order to protect your rights and obligations under a contract. Whether you are entering into a new contract or dealing with a contract that has been breached, it is always best to consult with a legal professional to ensure that your rights and interests are protected.