Share this site with del.icio.us Share this site with furl Share this site with stumbleupon Share this site with google Add this site to Yahoo Bookmarks Click here to add us to your favorites Subscribe to our Feed





impossibility of performance

Definition 1

UK: Impossibility is generally not an excuse for performance of a contract, and the obligor is liable for damages. However, if an event (beyond the control of either party) occurs and destroys the basis of a contract, that contract is terminated.

Definition 2

US: A circumstance, condition, or fact beyond the control of the parties may excuse performance where (1) means of performance is not available (due to its deterioration or destruction), (2) new or existing legislation prevents the performance, (3) an illness or death renders it unfeasible, and/or (4) delivery or payment cannot be effected for whatever reason.

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z