Frustration of contract

Frustration of contract,

Definition of Frustration of contract:

  1. Legal termination of contracts due to unforeseen circumstances which (1) make it difficult to achieve its objectives, (2) make its implementation illegal, or (3) make it impossible to implement. It can be caused by accidents, changes in the law, fire, partial illness, third party interference. Disappointment with the agreement justifies the breach and automatically terminates the agreement, unless the terms of the agreement take precedence over the articles of law. However, frustration cannot be accepted as an excuse when circumstances are close and do not apply to certain types of contracts, such as insurance policies.

Meaning of Frustration of contract & Frustration of contract Definition