Lecture 6 BFA601 Semester 1 2018.pptx

Paradine v jane 1647 taylor v caldwell 1863 discharge

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Paradine v Jane (1647) Taylor v Caldwell [1863] Discharge by frustration (6.16) Discharge by frustration (6.16)
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Discharge of Contract and Remedies for Breach of Contract Discharge of Contract and Remedies for Breach of Contract Frustration takes place when there supervenes an event (without the fault of either party and for which the contract makes no provision) which so significantly changes the nature (not merely the expense or difficulty) of the outstanding contractual rights and/or obligations from what the parties could reasonably have contemplated at the time of its execution, that it would be unjust to hold them to the literal sense of its stipulations in the new circumstances; in such a case the law declares both parties to be discharged from further performance. National Carriers Ltd v Panalpina (Northern) Ltd (6.18) National Carriers Ltd v Panalpina (Northern) Ltd (6.18)
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Discharge of Contract and Remedies for Breach of Contract Discharge of Contract and Remedies for Breach of Contract Where the subject matter of the contract has been destroyed; Where performance of a contract becomes illegal, usually resulting from a change in the law; Where circumstances anticipated by the parties and essential to the contract cease to exist; Where the contract is predicated upon the happening of a specific event which does not take place; Where a change of policy by a government impacts radically upon the rights and obligations under the contract; Examples of frustration (6.20) Examples of frustration (6.20)
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Discharge of Contract and Remedies for Breach of Contract Discharge of Contract and Remedies for Breach of Contract Where a change of policy by a government impacts radically upon the rights and obligations under the contract; Where a supervening event makes performance impossible; and Where a supervening event causes unreasonable delay. Esposito v Bowden (1857) Examples of frustration (6.20) Examples of frustration (6.20)
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Discharge of Contract and Remedies for Breach of Contract Discharge of Contract and Remedies for Breach of Contract Horlock v Beal [1916] Krell v Henry [1902] Metropolitan Water Board v Dick, Kerr & Co [1918] Examples of frustration (6.20) Examples of frustration (6.20)
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Discharge of Contract and Remedies for Breach of Contract Discharge of Contract and Remedies for Breach of Contract Frustration ends the contract, with no need to rescind. Frustration is not retrospective and all pre- existing rights can be enforced A frustrated contract is not void ab initio – monies paid can be recovered The effect of frustration (6.22) The effect of frustration (6.22)
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Discharge of Contract and Remedies for Breach of Contract Discharge of Contract and Remedies for Breach of Contract Frustrated Contracts Acts, applies in several states and territories, though with some differences.
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