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

Introduction-exchange control, INTRODUCTION : Exchange Control is another ...

INTRODUCTION : Exchange Control is another important area of international trade. The term exchange control applies to the rules and regulations designed to regulate transactions

Marketing plan for the business, QUESTION 1 Define and describe TWO ele...

QUESTION 1 Define and describe TWO elements of the Marketing Mix and discuss how each one would influence marketing decisions for a sportswear manufacturer. Use examples to ill

Purchase discount of foreign bills, Purchase Discount of Foreign Bills : P...

Purchase Discount of Foreign Bills : Purchase or discount facilities in respect of export bills drawn under confirmed export contracts are generally granted to exporters who enjoy

The impact of online marketing on brand awareness, I have an assignment nee...

I have an assignment needed of 3500 words for mrm a masters student.can you help me with it

Explain marketing concept and the societal marketing concept, Question 1: ...

Question 1: The product manager when introducing a new product wants the product to enjoy a long and happy life. (a) How will the ‘life' of a product be conceptually analyse

Common obstacles in consumer behaviour, Q. Common obstacles in consumer beh...

Q. Common obstacles in consumer behaviour? When first beginning to understand as well as apply Lifestyle and psychographics communicators often run into three impediments. *

Research design and methodology, regression line drawn as y=c+1075x,when x ...

regression line drawn as y=c+1075x,when x was 2,and y was 239, given that y intercept was 11. calculate the residual

Brand promotion, brand promotion technique can benefit an organization by i...

brand promotion technique can benefit an organization by increasing its sales or hitting competitive brands may leave a negative impression on the customers?

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