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

Post-shipment credit in foreign currency , Post-shipment Credit in Foreign ...

Post-shipment Credit in Foreign Currency : The exporters have the option of availing of export credit at the post-shipment stage either in rupee or in foreign currency. The credit

General conditions in export contracts, GENERAL CONDITIONS IN EXPORT CONTRA...

GENERAL CONDITIONS IN EXPORT CONTRACTS : Export contract refers to the subject matter of the contract. In addition, the contracts also mention the rights of the party concerned ag

Procedural formalities - customs clearance , Procedural Formalities : The ...

Procedural Formalities : The Shipping Bill and the other documents are submitted to the Custom House as soon as the Rotation No. has been given to the carrier. As soon as the docu

Objectives-shipment of export cargo, OBJECTIVES After studying this Uni...

OBJECTIVES After studying this Unit, you should be able to: 1.  Explain stages involved in export cargo shipment 2.  Discuss the policy for Central Excise Rebate on expor

SWOT and Strategy Analysis, Read the industry profile overview, including t...

Read the industry profile overview, including the website links, on the page. Complete a SWOT analysis for the selected industry. The SWOT analysis allows a business to understand

salesexp against bpriceexp and cpriceexp, The variables in the file ASSIGN...

The variables in the file ASSIGN, in order from column 1 by column 8, are: Week, SalesExp (unit sales in experimental group), SalesCntl (unit sales in control group), BPriceExp

Explain research nature and objectives in addition to types, Explain resear...

Explain research nature and objectives in addition to types (1)To identify and find solutions to the problems: Research is essential to understand the problem in depth. Fo

Abstract construct, What is the difference between abstract construct and c...

What is the difference between abstract construct and concrete variable?

Research Methodology, Regression line drawn as Y=C+1075x, when x was 2, and...

Regression line drawn as Y=C+1075x, when x was 2, and y was 239, given that y intercept was 11. calculate the residualuestion #Minimum 100 words accepted#

Discuss the importance of marketing research, Discuss the importance of mar...

Discuss the importance of marketing research report in the overall marketing research process. Answer Marketing research report is the bridge between manager and researche

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