Learn about the doctrines of impossibility, impracticability, and frustration of purpose and what happens if events occur that change a party's ability to perform under a contract.
The parties to a contract typically enter into an agreement expecting the circumstances to remain the same. But what happens if an event occurs that changes the circumstances and affects the parties’ ability to perform? Today, you’ll be learning about how changed circumstances may affect the performance of a contract.
In our discussion today, we’ll cover three situations in which changed circumstances may affect the performance of a contract: impossibility, impracticability, and frustration...