242. A contract may be broken in any one of three ways:
(a) A party may renounce his liabilities under it.
(b) He may by his own act make it impossible for him to fulfill his liabilities under it.
(c) He may totally or partially fail to perform what he has promised.
Of these three forms of breach, the first two may take place while the contract is still wholly executory; that is, before either party is entitled to demand a performance by the other of his promise. The last can only take place at or during the time for performance.48
243. Renunciation of a contract by one of the parties before the time for performance discharges the other party if he so chooses, but not otherwise, and entitles him to sue at once for the breach.47
45 Anson, Conk (4th Ed.) 276. 46 Anson, Cont (4th Ed.) 280.
47 Anson, Cont (4th Ed.) 280-283. And see "Repudiation of Contracts," by Samuel Williston, 14 Harv. Law Rev. 317, 421.
244. Renunciation of a contract by one of the parties in the course of performance discharges the other party from a continued performance of his promise, and entitles him to sue at once for the breach.48