A . Velinda and Thelma enter into a contract. What are the ways in which Velinda can be discharged? b. What are the ways in which both parties can be discharged?
a . Velinda is discharged if: (1) she fully performs; (2) Thelma materially breaches; (3) Thelma materially alters the contract; (4) Velinda and Thelma agree to substitute a third party for Velinda; (5) Velinda is discharged in bankruptcy; (6) Velinda tenders performance of a bilateral contract but Thelma refuses or rejects the tender.
b. Both Velinda and Thelma are discharged if: (1) they both fully perform; (2) there is a mutual rescission of the contract; (3) the contract becomes impossible to perform; (4) the contract subsequently becomes illegal; (5) a substituted contract is accepted by both parties in satisfaction of the original contract; (6) there is a failure of a condition; (7) either Velinda or Thelma materially alters the written contract (8) there is an accord and satisfaction.
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