1. INTRODUCTION:
Compliance with the legal obligation in a contract is called contract performance. Chapter VI of the Contract Law deals with the execution of contracts.
2. OBLIGATION OF THE PARTIES TO
UNDER THE LAW OF CONTRACT:
In accordance with article 37 of the Contract Law. Contracting parties must fulfill or offer to fulfill their respective promises. Unless such performance is excused or excused under the provisions of this Act or any other law.
3. PERFORMANCE DEMAND:
The following persons may demand the performance of the contract.
(I PROMISED:
The promise may require performance of the contract.
> Example:
A promise to B to pay Rs 1000 to C. If A does not pay the amount to C. Only B can enforce the contract by A who made the promise.
(II) LEGAL REPRESENTATIVE:
If the promise dies, your legal representative can demand performance of the contract.
> Example:
A borrowed some money from B. B died – 1 B’s legal representative can demand performance of the contract.
4. WHY THE CONTRACT SHOULD BE MADE:
The contract must be executed by the following people.
(I) THE PROMISER HIMSELF:
The contract can be executed by the promisor. Either himself or through another competent person.
> Example:
A promises to paint a picture for B. A must fulfill the promise himself.
(II) AGENT:
The contract can be executed by the Agent of the promisor.
> Example:
A promise B to sell goods A can fulfill his promise himself or through his agent.
(III) LEGAL REPRESENTATIVE:
The contract can be executed by a legal representative.
> In case of personal ability:
In the case of a contract involving personal ability, the legal representative of the deceased is not obliged to perform the contract.
> In case of non-personal ability:
In case of contract that does not involve personal ability but impersonal nature, the legal representative is obliged to execute the contract.
(IV) THIRD PERSON:
When a promise accepts the performance of the contract by a third person, it cannot subsequently enforce it against the promisor.
> Example:
A borrows Rs 5 Lac from B and promises to repay it within a year. After a few months, C, A’s brother pays Rs 5 Lac to B. B accepts the money. A is the exemption from the payment obligation.
5. CONCLUSION:
To conclude I can say that. The parties to the contract must comply with their contractual obligations. If the contract is not fulfilled in the specified time, it will be terminated.