Promisee may dispense with or remit performance of promise

• Section 64 of the Contracts Act 1950 provides that :

" Promisee may dispense with or remit , wholly or in part , the performance of the promise made to him , or may extend the time for such performance , or may accept instead of it any satisfaction which he thinks fit."

Example 1 :
X promises to paint a picture for Y . Y afterwards forbids him to do so . X is no longer bound to perform the promise .