GENIAL TIMELINE

BREACH OF CONTRACT

Other ways to terminate a contract

Revocation

Resolution

Rescision

TERMINATION OF CONTRACTS

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Unilateral or bilateral: ​ A party may exercise the right to rescind (cancel) the contract AT ANY TIME, discharging all obligations; or ​ Both parties may rescind the contract by mutual agreement. (Article 1076) ​ Obligations under the contract are only discharged prospectively (meaning that the parties are discharged from performing future obligations) ​ FOR EXAMPLE: in a LEASE AGREEMENT, the Tenant may choose to rescind the contract, generally, by giving advance notice to the Landlord and paying a month’s rent.

Only unilateral: ​ A party may be entitled to cancel the contract, in whole or in part, for cause.​ For cause: In general, when the other party has committed breach of contract, but other causes include frustration of the purpose (unforeseen events change the party’s principal purpose for entering into the contract).​ Retroactive effects: ALL POSSIBLE RESTITUTIONS MUST BE MADE. This is done to bring the parties, as far as possible, back to the position in which they were before they entered into a contract.​

Only applicable to UNILATERAL CONTRACTS (such as donations, deposits, pledge, etc.)​ A party unilaterally elects to terminate a unilateral legal act. Mutual consent is not needed. ​ Future effects ​ Example: A donor may revoke an act of donation in some situations, typically on the grounds of ingratitude of the donee (for example, when the donee has seriously offended the donor or attempted to kill him).​ ​

Impossibility of performance: The contractual obligations of one or more parties cannot be fulfilled under normal circumstances.​ Force majeure: a common clause in contracts which essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties prevents one or both parties from fulfilling their obligations under the contract. ​ Frustration: something, the fault of none of the parties, happens that has the following effect:​ • it makes the contract physically or commercially impossible to fulfil, or​ • it transforms the obligation to perform into a radically different obligation from that undertaken at the start of the contract ​ Nullity: for example, when there is lack or defect of consent (duress, fraud or mistake). A contract that is void is a contract that strictly speaking never has existed – its termination is concluded as if having legal effect before it started. Void then means as if no agreement has ever existed. ​