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| The parties fulfill the terms of the contract by doing what they had earlier promised. |
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| When all terms of a contract have been carried out properly and completely. |
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| The time that is suitable, fair, and proper to the objective in view. |
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| Slightly less than fully performance. |
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| An offer to do what you have agreed to do under the terms of a contract. |
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| Agreement between two parties to end an agreement. |
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| Contract is discharged when one party to an agreement agrees to accept performance from the other party that is different from what was agreed upon in the original contract. |
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| Impossibility of Performance |
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Definition
| Situation in which it is legally impossible to fulfill the obligations of the agreement. |
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| A contract is discharged by the court because it is in the best interest of society. |
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| Set procedures for discharging a debtor's obligations. The obligations still exist, but the debtor can no longer be imprisoned for failure to pay. |
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| The law that specifies the time within which a contract may be legally enforced. |
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