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Changed Circumstances in Contract Law: Impossibility, Impracticability, and Frustration of Purpose
Автор: Business Law Institute
Загружено: 2021-04-10
Просмотров: 4901
Описание:
Non-performance by one of the parties to a contract amounts to a breach of the contract. While this is of course true in most cases, there are certain exceptions to the general rule. Namely, it is possible that non-performance is not the fault of a party but rather based on a change in circumstances.
This refers to three specific grounds which, if present, may excuse a party’s failure to perform:
Impossibility
Impracticability
Frustration of purpose
We will look at these in turn.
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