The course examines some basic principles governing five major ways in which contracting parties may be discharged from their obligations: (i) by performance; (ii) by express or implicit agreement of the parties that their obligations be terminated; (iii) by failure of a non-promissory condition precedent to major performatory obligations;
(iv) by election of the innocent party to terminate further delegations following a serious breach by the other party; and (v) by the occurrence of supervening events which frustrate the originally intended operation of the contract. Significant attention will be given to some legal remedies that become available following discharge in the five situations just mentioned.