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

Objectives-procedures for claiming export incentives, OBJECTIVES After ...

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

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

Determine the types of stratified random sampling, Determine the types of s...

Determine the types of stratified random sampling There are two kinds of stratified random sampling; (a) proportionate stratified sampling (b) disproportionate stratified sampl

Export under claim for rebate of duty , Export under Claim for Rebate of Du...

Export under Claim for Rebate of Duty on Excisable Materials used in the Manufacture of Export Goods (Rule 12 (1) (B)) Under Central Excise Rule 12(1)(B) rebate has been gran

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

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

Discuss the steps in creating a customer service strategy, Problem: A m...

Problem: A major differentiating factor for companies is the quality of Customer Service. (i) Give the reasons which justify the inclusion of Customer Service as an e

Non sampling errors, Non sampling errors as the name implies are all those ...

Non sampling errors as the name implies are all those errors which occur in different stages of research except in the selection of sampling. Obviously these errors are many and va

Open policy, Open Policy : Also known as Floating Policy, it has much in a...

Open Policy : Also known as Floating Policy, it has much in a common with the Open Cover. This policy benefits clients with substantial turnover and a large number of despatches

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