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

Procedural formalities-shipment of export cargo, Procedural Formalities...

Procedural Formalities : Let us now discuss various procedural formalities of excise rebate. Refund Procedure under Rule 12.The authorities involved in this Rule are: i) Juris

Exchange control, Exchange Control: Exchange control means official interv...

Exchange Control: Exchange control means official intervention with the foreign exchange of a country. It is a system of rationing foreign exchange among competing demands for it,

Model, model building is the essence of the operations research approach?

model building is the essence of the operations research approach?

State advantages and disadvantages of quota sampling, State advantages and ...

State advantages and disadvantages of Quota sampling These quotas are assigned in a way that there remains resemblance between quotas and populations with respect to characteri

Explain your human resource planning approach, Question: You are appoin...

Question: You are appointed as the Group Marketing Director of a renowned hotel group. Your task is to develop a business plan to attract sales and achieve an occupancy rate of

Advertising and marketing mix: product, Product, Price, Promotion, and Plac...

Product, Price, Promotion, and Placement - Advertising and the Marketing Mix: Product, Price, Promotion, and Placement Advertising campaigns and how they are integrated with

Price changes, what will be the reaction of a buyer about this price change...

what will be the reaction of a buyer about this price changes?

Examine the role and importance of marketing research, Question 1: "Mar...

Question 1: "Marketing research ethics refers to taking an ethical and above-board approach to conducting marketing research that does no harm to the participant in the process

Highlights of exim policy 1997-2002, HIGHLIGHTS OF EXIM POLICY 1997-200...

HIGHLIGHTS OF EXIM POLICY 1997-2002 : The new Exim Policy 1997-2002 aims at giving a major thrust to acceleration of India's exports through restructuring and revamping of var

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