Release/dismissal

Question 1

Impossibility

Answer 1

Permitted only when performance is impracticable because of extreme and unreasonable difficulty or expense, the impossibility must be in the nature of the thing to be done and not in the inability of the promisor to do it

Question 2

Frustration of purpose

Answer 2

Applies when an unforeseeable event arises that makes a contract impossible to perform

Question 3

Rescission

Answer 3

The non-defaulting party to a contract can cancel or rescind the contract, which requires a return of any deposits or other benefit conferred on the other party

Question 4

Release

Answer 4

A writing that manifests an intent to discharge another party from an existing duty