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

Define a research problem, In addition to what has been stated above the fo...

In addition to what has been stated above the followings points must also be observed while defining a research problem: 1.Technical terms and words or phrases with special mean

Procedure for making a claim, PROCEDURE FOR MAKING A CLAIM : A claim will ...

PROCEDURE FOR MAKING A CLAIM : A claim will arise when any of the risks insured under the policy materialises. If an overseas buyer goes insolvent, the exporter becomes eligible f

Sources of literature, The sources of documentary information which can aid...

The sources of documentary information which can aid the process of locating literatures relating to selected research topics are: 1. Subject Catalogues of Libraries: These cata

Specific policies of cover issued , Specific Policies : Contracts for expo...

Specific Policies : Contracts for export of capital goods or projects for construction works and for rendering services abroad are insured by ECGC on a case to case basis under sp

Cancellation and extension of forward contracts, Cancellation and Extension...

Cancellation and Extension of Forward Contracts: If the exporter is not able to deliver even within the option period, he may approach to the bank either for cancellation or for e

Explain longitudinal and cross-sectional research designs, Discuss the diff...

Discuss the difference between longitudinal and cross-sectional research designs. Answer Cross-sectional design is the most familiar and most common way of conducti

Selecting specific media vehicles, give the example on this... media planne...

give the example on this... media planner must compute the cost per thousand persons reached by a vehicles

Write a brief note on report presentation, Write a brief note on report pre...

Write a brief note on report presentation. Answer Presentation has become an integral part of most marketing research projects. Most managers are finding it hard to read e

Benefits of marketing research, Question: The developers of "Sonny Musi...

Question: The developers of "Sonny Music? predict that their new service will be a success. Their prediction is based on their experience of launching an existing service. (

Internet advertising techniques, Question 1 Write a short notes on:    ...

Question 1 Write a short notes on:                     A. Internet Advertising Techniques                     B. Difference between traditional marketing and e-marketing

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