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Simple English definitions for legal terms
discharged contract
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A quick definition of discharged contract:
A discharged contract is a type of contract that is no longer valid or enforceable. This can happen for various reasons, such as when the terms of the contract have been fulfilled, when one party breaches the contract, or when the contract is deemed void. A contract is an agreement between two or more parties that creates legal obligations, and it can be in the form of a written document or a verbal agreement. However, it's important to note that the term "contract" usually refers to the legal relations resulting from the agreement, rather than the physical document itself.
A more thorough explanation:
A discharged contract is a type of contract that is no longer enforceable or recognizable at law. It is also known as a void contract.
A contract is an agreement between two or more parties that creates obligations that are legally binding. It can be in the form of a written document or a verbal agreement.
For example, if you hire a contractor to build a deck in your backyard, you and the contractor will enter into a contract. The contract will outline the terms of the agreement, such as the price, timeline, and materials to be used. Once the deck is built and you have paid the contractor, the contract is considered discharged because all obligations have been fulfilled.
Another example of a discharged contract is when a lease agreement ends. Once the lease term is over and all obligations have been fulfilled, the contract is discharged.
In summary, a discharged contract is a contract that is no longer enforceable because all obligations have been fulfilled.