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

Packing credit-eligibility, Eligibility: Packing credit is available to al...

Eligibility: Packing credit is available to all exporters whether merchant exporters, Export1 Trading/Star Trading/Super Star Trading Houses and manufacturer exporters. Manufactur

Forward quotations, Forward Quotations : Forward rates can be expressed in...

Forward Quotations : Forward rates can be expressed in two ways. Commercial customers are usually quoted the .actual price which is referred to the outright rate. On the other han

What are the steps involved in questionnaire building, What are the steps i...

What are the steps involved in questionnaire building? Answer When there is a debate with regard to questionnaire building process, there is consensus among research commu

Identification and measurement of exchange risks, IDENTIFICATION AND MEASUR...

IDENTIFICATION AND MEASUREMENT OF EXCHANGE RISKS : In foreign trade, you may be either an exporter or an importer. Let us now examine what is the exchange risk to which an exporte

How clear are indications of quality, Q. How clear are indications of quali...

Q. How clear are indications of quality? The amount of effort a consumer puts into searching depends on a number of factors such as the market (how numerous competitors are t

Research for problem formulation, Problem formulation process mainly consis...

Problem formulation process mainly consists of studying situation environment hypothetical solutions or actions and choice of most appropriate course of actions. These studies can

Miss, I have to do a marketing research of a customize cellphones company, ...

I have to do a marketing research of a customize cellphones company, for my marketing class, and I don''t have any idea of how to start. Could you help me.

Prescribed period, Prescribed Period: The amount representing the full exp...

Prescribed Period: The amount representing the full export value of the goods exported shall be realised and be paid to the authorised dealer when it is due. The amount should be

Export of imported goods, Export of Imported Goods: Goods imported may be ...

Export of Imported Goods: Goods imported may be exported in the same or substantially the same form, without a licence provided they are not under the Negative Lists. Export of su

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