In contract law, what does it mean to have a 'discharged performance'?

Discharged performance in contract law refers to the situation where a party is released from its obligations under the contract. This can occur for various reasons, such as the completion of the contracted duties, mutual agreement to end the contract, or situations where performance is impossible or illegal. When performance is discharged, the party is no longer bound to fulfill the obligations set out in the contract.

In contrast to the other options, which involve renegotiation, fulfilling obligations, or cancellation by one party, discharged performance specifically indicates that the responsibilities have effectively ended for the party in question. Understanding this concept is crucial in contract law as it helps identify when parties are no longer required to perform their contractual duties and how that impacts legal obligations and rights.