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The Eurozone and commodity contracts

Posted on 17 September 2012

Under English law, it is generally accepted that a contract is frustrated when without default of either party, a contractual obligation, which is or becomes significant, becomes incapable of being performed because the circumstances in which the performance is called for renders it radically different from that envisaged by the parties at the time of contracting.
Where a contact is frustrated, the law declares both parties to be discharged from further performance and brings the contract to an end immediately………………………………………..Full Article: Source


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