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 psychoanalytical model of consumer behaviour, Q. Explain Psychoanal...

Q. Explain Psychoanalytical model of consumer behaviour? This model is on the basis of work of psychologists who were concerned with personality. They were of the outlook that

Examine a range of marketing strategy , Examine a range of general or marke...

Examine a range of general or marketing strategy options (a) Discuss a variety of general and marketing strategic options which are available to your organisation and evaluate t

Foreign exchange-exchange control, FOREIGN EXCHANGE : Foreign exchange, as...

FOREIGN EXCHANGE : Foreign exchange, as defined under Foreign Exchange Regulation Act. 1973 is foreign currency and includes: i) All deposits credit and balance payable in fore

Pest Analysis, How do I find information for a pest analysis, political inf...

How do I find information for a pest analysis, political information in particular? I don''t know where to begin.

Income-tax exemption, Income-Tax Exemption: In order to promote exports, t...

Income-Tax Exemption: In order to promote exports, tax incentives are granted under the Income-Tax Act. The major incentives are : 1) All export profits derived from export of

Data processing error, Data Processing Error: After the have been collected...

Data Processing Error: After the have been collected they are to be processed. This involves coding the responses, recording the codes, etc so that data collection can be transform

Determine the primary editing problem, Determine the primary editing proble...

Determine the primary editing problem One of the primary editing problem concerns with faking of an interview. Such fake interviews are difficult to spot till they come to edit

Illustrate about the quantitative and qualitative research, Illustrate abou...

Illustrate about the Quantitative and Qualitative Research Quantitative research is based on the measurement of amount or quantity. It's applicable to phenomena which can be e

Denomination of export contracts, Denomination of Export Contracts: All ex...

Denomination of Export Contracts: All export contracts and invoices shall be denominated in freely convertible currency and export proceeds shall be realised in freely convertible

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