BU231 Lecture Notes - Lecture 10: Novation
Document Summary
Bu231 lecture 10: discharge of a contract is the cancellation of the obligation of a contract, make the k. Base(cid:271)all a(cid:374)d (cid:449)eathe(cid:396): if (cid:455)ou do(cid:374)"t get to the 6th inning and weather is bad, causes to cancel, you get a refund: option to terminate, only if providing notice to other party, ex. Can cancel credit card: discharge by frustration, only applies where you have an unforeseeable event, outside control of parties that makes contract impossible or pointless to perform, ex. Natural disasters: requirements of frustration, unforeseen event, outside control of parties, event must occur after agreement was made, must make performance impossible or purposeless, where circumstances change and makes performance more difficult, it is still not frustration. If f(cid:396)ust(cid:396)ati(cid:374)g e(cid:448)e(cid:374)t happe(cid:374)s (cid:271)efo(cid:396)e fo(cid:396)(cid:373)atio(cid:374), it"s a (cid:373)istake. Doctrine of frustration: where the sale of goods act does not apply, then the frustrated contracts act applies in those provinces that have an act, otherwise, the fibrosa decision applies.
