What happens to a discharged contract?

When a contract is discharged, it means that the contractual obligations and rights of the parties involved are officially ended. This might occur for various reasons such as fulfillment of the contract terms, mutual agreement to terminate, or other legal reasons. Once a contract is discharged, it is no longer legally binding, and the parties are released from any further obligations or responsibilities stemming from that contract. This state of non-binding means that the parties cannot enforce the terms of the contract against one another.

The other choices inaccurately depict the state of a discharged contract. The notion that it remains effective and enforceable is incorrect, as a discharged contract signifies that the obligations have been met or the contract has been otherwise terminated. Similarly, suggesting that it can be renewed based on the parties' agreement does not apply; once discharged, the original contract ceases to exist, and a new contract would need to be formed if the parties wish to establish new terms. Finally, stating that it becomes a voidable contract does not align with the concept of discharge; a voidable contract implies that it is valid until one party opts to void it, which is not the situation with a fully discharged contract.