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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.
If the populate is not well defined and does not fit to the object of research study then an error occurs. In other words selection of an inappropriate population causes this error
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INTRODUCTION : You have learnt about the infrastructure and various export incentives provided by Government of India. These incentives are instrumental for the export promotion i
Administration of the Act : The exchange control policy is determined in India by the Ministry of Finance Government of India on the basis of The Foreign Exchange Regulation Act,
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OBJECTIVES After studying this unit, you should be able to : 1. Explain the need for procedural formalities of export incentives 2. Describe the process of claiming dut
Export of Goods Under Bond Under Rule 13 : The exporters have been permitted to export the excisable goods without the payment of Central Excise duty. Exporters are required to
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