commercial frustration

commercial frustration
Excuse of party from performance if contract depends on existence of given person or thing and such person or thing perishes, and if contract is rendered impossible by act of God, the law, or other party. Wood v. Bartolino, 48 N.M. 175, 146 P.2d 883, 885, 890.
In theory it amounts to no more than a condition or term of a contract which the law implies to take the place of a covenant that it is assumed would have been inserted by the parties had the contingency which arose occurred to them at the time they made the contract. Lloyd v. Murphy, Cal.App., 142 P.2d 939, 942, 943.
And doctrine is predicated upon premise of giving relief in a situation where parties could not reasonably protect themselves by terms of a contract against happening of subsequent events. Berline v. Waldschmidt, 159 Kan. 585, 156 P.2d 865, 867.
Hence doctrine has no application where events were reasonably foreseeable and controllable by the parties. U.C.C. No. 2-613.
See commercial impracticability

Black's law dictionary. . 1990.

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Look at other dictionaries:

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  • frustration of purpose — n. A situation that arises when a condition that was part of a contract does not occur, through no fault of either party, but the condition was the reason for one party entering the contract in the first place; can be cause for terminating the… …   Law dictionary

  • frustration — frus·tra·tion /ˌfrəs trā shən/ n 1 a: the act of frustrating b: the state or an instance of being frustrated c: something that frustrates 2: a common law doctrine of contract law: parties to a contract may be excused from performance even though… …   Law dictionary

  • commercial — com·mer·cial adj: of or relating to commerce commercial regulations com·mer·cial·ly adv Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. commercial …   Law dictionary

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  • frustration of contract — See commercial frustration …   Ballentine's law dictionary

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