Frustration of contracts , Marketing Research

Assignment Help:

FRUSTRATION OF CONTRACTS : There can be several factors beyond the control of the parties to a contract which makes the performance of contractual obligations impossible. Example  are wars civil disturbance, floods fire at the factory or strikes at ports In the common law countries(principally the UK and the Commonwealth countries), such situations are referred to as 'frustration of contracts'. The equivalent concept is known as 'force majeure' In the civil law countries (principally Western Europe). The term used for the same purpose while trading with the Russia and the East European countries is Relief. If due to such reason, the party concerned cannot do what he is supposed to do under the contract, the contract can be terminated and the party will not be liable to pay damage to the other party.

There is no unanimity of opinion as to what factors should be covered under frustration of contract. It is, therefore, suggested by legal experts, that the contract itself should specify the factors, constituting force majeure.

 


Related Discussions:- Frustration of contracts

Justify problem identification and problem-solving research, Justify proble...

Justify problem identification and problem-solving research in details. Are these two categories of researches related? Answer Problem identification research is undertak

Pre-shipment credit in foreign currency, Pre-shipment Credit in Foreign Cur...

Pre-shipment Credit in Foreign Currency : This is an additional window to rupee packing credit scheme. This credit is available to cover both the domestic and imported inputs of t

Assignment, how should i write my assignment

how should i write my assignment

Customer interest, the relationship between customer interest and company i...

the relationship between customer interest and company interest

How do customers buy, Q. How do customers buy? Research advised that cu...

Q. How do customers buy? Research advised that customers go through a five-stage decision-making process in any purchase. This is précised in the diagram below: This mo

Export of gifts, Export of Gifts: Goods including edible items of value no...

Export of Gifts: Goods including edible items of value not exceeding Rs. 15.000 in a licensing year may be exported as a gift. However, items in the Negative List of Exports shall

Benefit segmentation in regard to consumer behaviour, Explain Lifestyle and...

Explain Lifestyle and Psychographic Segmentation and benefit segmentation in regard to consumer behaviour. Ans: For several years demographics have governed how communication t

International marketing, Define international marketing and furnish its fea...

Define international marketing and furnish its features.

Name five types of general insurance, ? OVERSEAS INSURANCE ? LIVE STOCK ...

? OVERSEAS INSURANCE ? LIVE STOCK INSURANCE ? GLASS INSURANCE ? FIDELITY INSURANCE ? KEY MAN INSURANCE

What do you mean by trait theory, Q. What do you mean by Trait theory? ...

Q. What do you mean by Trait theory? Trait theory is a main departure from the qualitative or subjective approach to personality measurement. It postulates that persons possess

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd