Discussions in Contracts: Impossibility, Impracticability and Frustration Podcast
The topic of this podcast is impossibility, impracticability and frustration. Ordinarily we expect the parties to perform their contracts under the principle of pacta sunt servanda, meaning promises are to be kept. Contract law, though, does provide excuse for non-performance (meaning a party is not in breach) in the event of certain contingencies the nonoccurrence of which are basic assumptions of a contract. This podcast covers the three distinct grounds for excuse provided by contract law: (i) impossibility; (ii) impracticability; and (iii) frustration of purpose. At the conclusion of this podcast you should be able to (1) identify the three types of doctrines that apply to excuse performance under a contract due to unforeseen events; (2) determine which type of excuse are raised by a fact pattern; (3) apply the relevant test to conclude whether the excuse might be available to a party; and (4) explain when a party might not be able to claim excuse due to allocation of the risk of the event by contract or custom.