Performance of contracts refers to the fulfillment of the obligations, promises, and terms outlined in a valid and legally enforceable contract. When parties enter into a contract, they create a binding agreement, and each party is generally required to perform their respective obligations as specified in the contract. The successful performance of a contract is a key aspect of contract law, and it is essential for upholding the rights and obligations of the parties involved.

Here are some important points related to the performance of contracts:

1. Timely and Complete Performance: Parties are typically expected to perform their obligations under the contract in a timely and complete manner. This means fulfilling all duties and promises as specified in the contract and within the agreed-upon timeframes.

2. Conditions and Terms: The contract itself will specify the conditions, terms, and requirements for performance. Parties must adhere to these conditions to ensure that their performance is in compliance with the contract.

3. Material Breach: Failure to perform a significant or "material" part of the contract's terms can be considered a breach of the contract. The non-breaching party may have legal remedies for such breaches, including the right to seek damages or specific performance.

4. Anticipatory Repudiation: If one party makes it clear that they will not fulfill their obligations before the time for performance, this is known as "anticipatory repudiation." The non-breaching party can treat this as a breach of the contract and may take legal action.

5. Partial Performance: In some cases, one party may partially perform their obligations, and the other party may accept this partial performance. This can lead to a modified or amended contract to reflect the partial performance.

6. Discharge of Contract: A contract can be discharged or terminated in various ways, including by mutual agreement, performance, frustration of purpose, or operation of law.

7. Legal Remedies for Non-Performance: When one party fails to perform their obligations under the contract, the non-breaching party may have several legal remedies available, such as seeking monetary damages, specific performance (court-ordered performance of the contract), or cancellation of the contract.

8. Third-Party Rights: In some contracts, third parties may have rights or obligations based on the performance of the contract, which can complicate the enforcement of the contract.

The successful performance of contracts is crucial for maintaining trust and enforcing the rights and obligations of parties in various business and personal transactions. Contract law provides a legal framework for addressing disputes that arise from non-performance and for seeking remedies when contractual obligations are not met. It is essential for all parties to understand and adhere to the terms and conditions of the contract to ensure its proper performance and enforcement.