Excuses

Question 1

Excuses

Answer 1

• Facts Change
  
  • Impossibility
  • Impracticability
  • Frustration of Purpose
• Agreement Changes
  
  • Rescission
  • Substituted Contract
  • Accord & Satisfaction (consideration)
  • Novation (agreement)
  • Release (consideration)
• Timing
  
  • Lapse of Time
  • Statute of Limitations

Question 2

Excuses: Facts Change

Answer 2

Impossibility will excuse a party from performing where a change in facts makes performance actually or legally impossible. (illegallity, death of particular person)

Impracticability will excuse a party from performing where performance is rendered impracticable due to the occurance of an unforseeable event, the non-happening of which is a basic assumption of the contract. (more expensive or inconvenient is not enough)

Frustration of purpose will excuse a party from performance where circumstances arise that substantially frustrate a party’s purpose; provided that the event was reasonably unforseeable and the purpose is destroyed or nearly destoryed.

Question 3

Excuses: Change in Agreement

Answer 3

A party can be excused from performance where a valid subsequent agreement of the parties relieves the party of the duty to perform.

• Recission (neither performance complete)
• Accord and Satisfaction (consideration)
• Substituted Contract (consideration)
• Novation (Agreement)
• Release (consideration)