SU 2 Chapter 7 - Possibility of performance Flashcards
(5 cards)
1
Q
What is impossibility of performance?
A
When performance is objectively impossible at conclusion of contract, no obligation will come into existence.
2
Q
What is the effect of impossibility of performance?
A
Obligation and counter performance become void.
2
Q
What does it mean for an obligation to be extinguished by supervening impossibility of performance?
A
If performance becomes impossible after conclusion of contract and not due to fault of either party.
2
Q
When is performance impossible? (2)
A
If objectively impossible
If cost and risk of performance disproportionately outweighs value of performance.
3
Q
In which case would impossibility of performance still be a breach?
A
Where there are provisions or warranties of performance
