Risk of Loss Breach, Impracticability

Question 1

definitions:

Answer 1

• Impracticability - excuses performance of a duty, when the duty has become unfeasibly difficult or expensive for the party.
• Impossibility – impossible to perform the K.
• Frustration of Purpose – Can perform the K but it doesn’t make
  any commercial sense.

Question 2

What are the four provisions in the Code designed to address?

Answer 2

Unexpected events of life that make the performance of a contract impossible or commercially impracticable

These provisions aim to clarify legal issues arising from unforeseen circumstances.

Question 3

What standard did the Code drafters intend to create regarding performance impossibility?

Answer 3

A new standard of commercial impracticability

This was meant to broaden the common law concept of impossibility.

Question 4

How have many commentators viewed the courts’ treatment of commercial impracticability?

Answer 4

As synonymous with common law impossibility

This suggests a divergence from the drafters’ original intentions.

Question 5

True or False: The Code’s provisions for impossibility of performance are widely accepted and have not been challenged in courts.

Answer 5

False

Many believe the courts have ignored the drafters’ broader intentions.

Question 6

Fill in the blank: The Code’s provisions aim to resolve legal issues caused by _______.

Answer 6

unexpected events of life

Question 7

What did the Code drafters aim to do with the common law concept of impossibility?

Answer 7

Broaden it