Which of the following is not a method of discharging a contract?

Assessment: WAEC SSCE - Commerce - 2002 (Objective) Subject: Commerce

Question 1 Report

Which of the following is not a method of discharging a contract?
Answer Details
Consideration is not a method of discharging a contract. Performance refers to the fulfillment of all obligations and terms of the contract, while breach occurs when one party fails to fulfill their obligations as agreed upon in the contract. Frustration occurs when an unforeseen event makes it impossible to fulfill the contract. Consideration, on the other hand, refers to something of value exchanged between the parties, which is necessary for the formation of a valid contract. It is not a method of discharging a contract, but rather a requirement for the formation of one.
Read lesson note on Legal Aspect Of Business (WAEC)
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