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

Standard policies of cover issued , Standard Policies The ECGC has de...

Standard Policies The ECGC has designed four types of Standard Policies to provide cover for shipment made on short-term credit. i) Shipments (Comprehensive Risks) Policy

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

Factors influencing consumer demand and launch of santro, What makes Santro...

What makes Santro click? "The consumer", says Subbu (Director marketing and soles, Hyundai) He believes that the way to a consumer's mind is thought his heart so all product launch

Benefit segmentation in consumer behaviour, Q. Benefit segmentation in cons...

Q. Benefit segmentation in consumer behaviour? The benefit segmentation approach is foundation upon the belief that it is possible to measure consumer value systems in detail t

Moving averge, inn moving average method, we need data of atleast a) three ...

inn moving average method, we need data of atleast a) three years b) four Years c) five years d) six years

Marketing segment, How might this medical group tailor its marketing mix to...

How might this medical group tailor its marketing mix to appeal to this segment?

General conditions in export contracts, GENERAL CONDITIONS IN EXPORT CONTRA...

GENERAL CONDITIONS IN EXPORT CONTRACTS : Export contract refers to the subject matter of the contract. In addition, the contracts also mention the rights of the party concerned ag

Explain nonprobability and probability sampling techniques, Provide a short...

Provide a short note highlighting major differences between nonprobability and probability sampling techniques? Answer Probability sampling is more robust in comparison as

Evidence based forecast, how to apply the judgemental and observation forec...

how to apply the judgemental and observation forecasting techniques in clothing store

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