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

Remittances connected with exports, Remittances Connected with Exports : E...

Remittances Connected with Exports : Exporters are permitted to retain upto 25% (50% in the case of EOUs located in EPZI Software Technology Parks/Electronics Hardware Technology

Economic model of consumer behaviour, Q. Economic model of consumer behavio...

Q. Economic model of consumer behaviour? Economic model: Economic model of consumer actions is one-dimensional. This denotes that buying decisions of a person are governed b

Market Segments and Sizes, Is it possible to share some insight on various ...

Is it possible to share some insight on various market segments in Indian mobile phone industry and their respective sizes

Document for claims, Document for Claims The claims on the insurers sho...

Document for Claims The claims on the insurers should be submitted duly supported by the following documents i) Original insurance policy or certificate of insurance duly en

Perception, discuss perception of risk is critical to the customer whem mak...

discuss perception of risk is critical to the customer whem making a puchase decision.

Economics assignment, #question. During the 1990s, technological advance re...

#question. During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected i

Meaning and nature of exchange rates , MEANING AND NATURE OF EXCHANGE RATES...

MEANING AND NATURE OF EXCHANGE RATES : During the Great Depression of the 1930s, almost all countries found it difficult to increase their exports. Many of them decided to resort

Attitude change strategies - consumer behaviour, Attitude Change Strategies...

Attitude Change Strategies . Changing attitudes is in general very difficult particularly when consumers suspect that the marketer has a self-serving agenda in bringing about thi

Explain primary reseach and cultural sensitivity issues, Questions E...

Questions Explain the ways that primary research in an economically developed nation might differ from research in a developing nation. Compare two specific countries, and u

Objective-export credit insurance, Objective After studying this unit, ...

Objective After studying this unit, you should be able to: 1.  Explain the meaning of credit risk; 2.  Describe various types of policies issued by ECGC; 3.  Explain t

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