Novation is not a method of discharging a contract, but rather a method of creating a new contract that replaces an existing one.

In order for a contract to be discharged by performance, all parties must fulfill their obligations as agreed upon in the contract.

Rescission is the legal term for an agreement between parties to terminate a contract, restoring the parties to the positions they were in before the contract was entered into.

Frustration occurs when an unforeseen event makes it impossible or impracticable to perform the contract, such as a natural disaster or a change in law.

Breach is the legal term for a party's failure to fulfill their obligations under a contract.

Operation of law is the legal term for the termination of a contract by operation of law, such as the death of a party or the bankruptcy of a company.

Novation is the legal term for the process of replacing an existing contract with a new contract.

In the case of a breach of contract, the two main types of remedies are compensatory damages and specific performance.

Compensatory damages are the legal term for the payment of money to compensate for a loss suffered as a result of a breach of contract.

Specific performance is the legal term for a court order requiring a party to perform their obligations under a contract.

Rescission is the legal term for the cancellation of a contract and the restoration of the parties to the positions they were in before the contract was entered into.

Injunction is the legal term for a court order prohibiting a party from doing something.

Restitution is the legal term for the return of property or money that was transferred under a contract that has been discharged.

Reformation is the legal term for the process of correcting a mistake in a written contract.

Novation is the legal term for the process of replacing an existing contract with a new contract that is substantially different.