POSSIBILITY OF PERFORMANCE

A contract is made between the parties to or abstain from doing something. That contract creates a lawful obligation to the parties to perform the liabilities undertaken by them. If a contract is made to do or not to do such act which is impossible either physical or legal, the contract becomes void-ab-initio. The parties never be bound to perform their obligation even if money is paid can not recover in most of the cases. Therefore, it is an essential that the act which the parties are supposed to do must be such which can be performed by them at present or in future.

IMPORTANCE OF PERFORMANCE OF CONTRACT

Performance is an act of fulfilling of the contractual obligations by the parties as per contract. When the parties of a contract fulfill their respective obligations or the conditions of the contract, the contract is said to be performed by the parties. It is the usual and natural mode of discharge of contract. Once the contract is performed the parties are free from further obligation. A contract included the various expectations and future plans of the parties. Such expectations and future plans are fulfilled only when they performs their obligations. It is the legal duty of the parties. Therefore all contracts are made for performance. The expectations are realized when the parties perform their duties and the law recognizes the performance of contract as their legal duty. If one party fails to perform his obligation the other party has right to file an action before the court.