impossibility, impracticability, and frustration of purpose

Question 1

impossibility, impracticability, and frustration of purpose

Answer 1

these events occur post formation during the discharge of obligations phase. relief granted on these three things is super rare

Question 2

matter of law

Answer 2

courts determine if these excuses are valid

Question 3

262

Answer 3

death or incapacity of person necessary for performance

Question 4

263

Answer 4

destruction or deterioration or failure to come into existence of thing necessary to perform

Question 5

264

Answer 5

prevention by governmental order or regulation

Question 6

death of contract party

Answer 6

does not necessarily terminate if the estate can perform the contract.
if for personal services death of party may excuse performance

Question 7

subsequent illegality and destruction of unique goods

Answer 7

supervening law or regulation-if after formation of a contract the subject matter or performance of the contract becomes illegal or prohibited then performance is excused

Question 8

destruction, deterioration or failure to come into existence of thing necessary for performance

Answer 8

if existence of a specific thing is necessary for the performance of the duty, its failure to come into existence, destruction, or deterioration makes performance impracticable if an event the non-occurrence of which was a basic assumption on which the contract was made

Question 9

impossibility-preexsiting conditions

Answer 9

discovery of preexisting conditions that you did not know of at the time falls under impossibility and possibly mutual mistake as well

Question 10

suspend or rescind

Answer 10

the impossibility may be permanent and extinguish an obligation to perform or it may be temporary and only allow for suspension of performance

Question 11

foreseeability traditional rule

Answer 11

unforeseen or even unforeseeable at the time of contracting

Question 12

modern rule for foreseeability

Answer 12

relief is not denied if foreseeable. question of degrees

Question 13

acts of god/allocation of risk

Answer 13

acts of god are events that occur that are out of the control of the parties that are either temporarily or permanentently prevent performance

Question 14

force majeure

Answer 14

provisions in contract that allocate risk

Question 15

ucc impossibly 2-613

Answer 15

specific goods are identified as necessary for performance and those goods are destroyed or unavailable without the fault of either party then if the loss is total the contract is avoided

Question 16

ucc impracticability 2-615

Answer 16

sellers duty to deliver goods is excused when ability to perform has been made impracticable by occurrence of a contingency the non-occurrence of which was a basic assumption on which the contract was made. except in so far as a seller may have assumed a greater obligation

Question 17

remedy for IIFOP

Answer 17

generally, party will be entitled to rescission and restitution for any benefit conferred in exchange for the performance that is now excused. extraordinary circumstances may allow for reliance damages. judicial reformation is very very rare

Question 18

frustration of purpose

Answer 18

usually obligation to pay. based on change in circumstances that makes performance no longer desirable or useful, the loss of utility to the recipient or makes the performance virtually worthless

Question 19

ucc does not specifically address frustration of purpose

Answer 19

but hey ucc 2-615 is broadly written enough to encompass it

Question 20

impracticably 261

Answer 20

substantial reduction of the contract value-performance is impracticable. because of occurrence of event, the non-occurrence of which was a basic assumption of the contract. w/out the parties fault.. party seeking relief does not bear the risk of that occurrence under the contract or through the surrounding circumstances. INCREASED COST ALONE IS NOT ENOUGH

Question 21

FOP 265

Answer 21

substantial reduction of contract value. because of occurrence of event, the non-occurrence of which was a basic assumption of the contract. without the parties fault. party seeking relief does not bear the risk of that occurrence under the contract tor though surrounding circumstances. PERFORMANCE MSUT BE RENDERED VIRTUALLY WORTHLESS