Gregg has offered to perform his contract obligation and he is ready, willing, and able to perform this offer of performance is known as tender
What is Performance of Contract?
- .According to Section 2(a) of the Indian Contract Act of 1872, the word "offer" has been defined. A person makes an offer when they declare their willingness to perform an act or refrain from performing one in exchange for the consent of the person they are making the offer to.
- When used literally, the word "performance" refers to how something is done. In a legal sense, "performance" refers to the accomplishment of the responsibilities that one party has toward the other under the terms of the agreement they have agreed into.
- A written statement of the terms and conditions of a contract between two parties is known as an offer of performance.
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