Which term refers to ending a contract by fulfilling its obligations satisfactorily?

The term that refers to ending a contract by fulfilling its obligations satisfactorily is discharge by performance. This occurs when both parties to the contract complete their respective duties as outlined in the agreement, leading to the proper execution of the contract's terms. Once the obligations are met, the contract is considered fulfilled, and neither party has any further responsibilities under that contract.

Discharge by mutual agreement involves both parties deciding to end the contract together, which is distinct from simply performing the obligations. Discharge by settlement usually involves a compromise or an agreement reached to settle a dispute or change the terms of the contract, while discharge by waiver refers to relinquishing a right or obligation, which again does not equate to the fulfillment of the original contract. Therefore, discharge by performance specifically highlights the completion of contractual obligations as the method for concluding the agreement.