Legal Excuses for Breach Flashcards
(3 cards)
1
Q
Rule for Legal Excuses
A
The occurrence of changed circumstances may make a contract impossible or impracticable to perform or may frustrate the purpose of the contract. Where the non-occurrence of an event was a basic assumption of the parties in making the contract and neither party has assumed the risk of the event occurring, contractual duties may be excused.
2
Q
UCC Legal Excuses
A
2-613 Casualty to identified goods
2-614 substituted performance
2-615 Impracticability
3
Q
Common Law legal excuses
A
Impossibility (death, act of God, Illegal)
Impracticability ( heavy burden not assumed at signing of contract to complete
Frustration of purpose (core principle to contract gone)