Which of the following is incorrect? (i) Contracts are discharged by lapse of time. (ii) The discharge of a party and the discharge of a contract are one and the same thing. (iii) The cancellation of...

(i) Contracts are discharged by lapse of time.

(ii) The discharge of a party and the discharge of a contract are one and the same thing.

(iii) The cancellation of contract discharges the contract.

(iv) All of the above.