bilateral discharge
Definition
Termination of an unfulfilled contract (where neither party has yet performed its obligations) on court order, releasing both parties from their liabilities under it. The terminated contract may be (1) cancelled without creating a replacement contract, (2) cancelled and replaced with another contract, or (3) modified by exclusion or inclusion of certain terms.
bilateral discharge is in the Agreements & Contracts and Corporate, Commercial, & General Law subjects.
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