What Is Meant By Performance Of A Contract?
Performance of a contract means carrying out promises and obligations undertaken by the parties according to the terms prescribed in the contract. When the promisor has made a valid offer of performance to the promise and the offer had not been accepted by the promise, the promisor is not responsible for non-performance and he does not lose any rights under the contract. A valid tender of performance is equivalent to performance. It is also known as “attempted performance” or “tender.”