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

Explain research nature and objectives in addition to types, Explain resear...

Explain research nature and objectives in addition to types (1)To identify and find solutions to the problems: Research is essential to understand the problem in depth. Fo

Explain primary reseach and cultural sensitivity issues, Questions E...

Questions Explain the ways that primary research in an economically developed nation might differ from research in a developing nation. Compare two specific countries, and u

Abstract construct, What is the difference between abstract construct and c...

What is the difference between abstract construct and concrete variable?

Export of imported goods, Export of Imported Goods: Goods imported may be ...

Export of Imported Goods: Goods imported may be exported in the same or substantially the same form, without a licence provided they are not under the Negative Lists. Export of su

Explain about the specific information questions, Explain about the specifi...

Explain about the specific information questions The specific information questions are questions directly associated with research objectives. They mostly involve numerous sca

Kinds of perils , KINDS OF PERILS : The cargo insurance policy can be as w...

KINDS OF PERILS : The cargo insurance policy can be as wide as to cover all possible kinds of risk and losses to which cargo could be exposed in transit. The event which lead to l

Documentary requirements for customs clearance , Documentary Requirements ...

Documentary Requirements For movement of goods by air or by sea, the customs permission for shipment is given on a prescribed document, known as Shipping Bill. In other cases (

Duty exemption scheme, Duty Exemption Scheme: The Duty Exemption scheme co...

Duty Exemption Scheme: The Duty Exemption scheme consists of Duty Free Licence and Duty Entitlement Pass Book. Duty Free Licence includes Advance Licence, Advance Intermediate

Duty drawback credit scheme, Duty Drawback Credit Scheme: As an export pro...

Duty Drawback Credit Scheme: As an export promotional measure, the Government of India have authorised the Reserve Bank of India to instruct the commercial banks (Authorised Deale

Difference between the estimated proportion small business, In 2009, Resear...

In 2009, Research New Zealand conducted a survey on small businesses in New Zealand. Small businesses were defined as enterprises with 19 or fewer employees. 501 small business

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