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What else can I help you with?
Discharge by frustration?
A contract may be discharged by frustration. A contract may be frustrated where there exists a change in circumstances, after the contract was made, which is not the fault of either of the parties, which renders the contract either impossible to perform or deprives the contract of its commercial purpose. Where a contract is found to be frustrated, each party is discharged from future obligations under the contract and neither party may sue for breach. The allocation of loss is decided by the Law Reform (Frustrated Contracts) Act 1943.
What are two ways that a contract may be discharge by operation of law?
frustration, bankruptcy
How discharge a contract?
By performing all obligations under the contract By operation of law By breach By aggreement
Are oral agreement and contract void under law?
What I think you are trying to ask is whether oral agreements and oral contracts necessarily void under the law. Not necessarily. If you are purchasing goods for $500 or more, or for real estate, agreements must be in writing or something called the Statute of Frauds applies meaning you won't be able to uphold what you agreed to in court. For all other contracts, your state law will apply, but general contract law holds that as long as there is an offer and and acceptance for consideration, you have a contract, and the law will respect that contract (unless it is for some illegal purpose). Is it harder to prove an oral contract? Yes. Is it necessarily void? No.
What should performance be with the general rule under the law of contract?
The general rule under the law of contract is that Performance must be............???? would be great if someone could help asap! :D thanks
Under what circumstances does a contract reset by operation of law?
A contract may reset by operation of law when there is a material breach by one party, a mutual agreement to cancel or modify the contract, or if the contract is deemed illegal or impossible to perform.
The parties to a contract in a sense make the law for themselves?
Yes they do. Contracts can be called private law because regardless of what your rights under the law are, you are still bound to do what you agreed to in the contract unless it is illegal.
What is Mass rescission law on contract membership?
on Wed Dec 2 we signed a membership contract. Today we emailed a cancellation. Are we within our rights under Mass law?
Is a contract signed under UK law automatically recognised in US court?
no
Is contract on plain paper enforceable under law?
In most places a written contract is enforceable. There are places where you have to contract on stamped paper for certain types of agreements.
What is the contract law?
Contract law refers to the body of law that governs the oral and written agreements that are associated with the exchange of properties, money, goods, and services. Topics that are covered under the contract law includes the termination of contract, contracts of employment, limitation of actions and the freedom of contract.
What are the reasons for discharge of contract?
if all obligations under the contract are completed. If an operation of law causes it to end. If the parties mutually agree to end it. If there is a breach
