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When performance of promise becomes impossible or illegal by occurrence of an unexpected event or change of circumstances beyond the contemplation of parties, the contract becomes void. The situation is dealing with.?
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When performance of promise becomes impossible or illegal by occurrenc...
Performance of Promise
A contract is an agreement between two or more parties, and each party has certain obligations to perform. When one party fails to meet their obligation, it is considered a breach of contract. However, there are certain circumstances that can make performance of the promise impossible or illegal.
Unexpected Event or Change of Circumstances
When an unexpected event or change of circumstances occurs beyond the contemplation of the parties, it can make performance of the promise impossible or illegal. These events or changes may include:
- Natural disasters
- War or political unrest
- Changes in laws or regulations
- Death or illness
- Bankruptcy
Void Contract
When performance of the promise becomes impossible or illegal, the contract becomes void. This means that the contract is no longer enforceable and the parties are released from their obligations. In such cases, neither party can be held liable for breach of contract.
Conclusion
The occurrence of unexpected events or changes of circumstances can make performance of the promise impossible or illegal. In such cases, the contract becomes void, and both parties are released from their obligations. It is important to consider the possibility of such events or changes when entering into a contract and include appropriate provisions for handling them.
Community Answer
When performance of promise becomes impossible or illegal by occurrenc...
The situation is dealing with the impossibilty of performance
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When performance of promise becomes impossible or illegal by occurrence of an unexpected event or change of circumstances beyond the contemplation of parties, the contract becomes void. The situation is dealing with.?
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When performance of promise becomes impossible or illegal by occurrence of an unexpected event or change of circumstances beyond the contemplation of parties, the contract becomes void. The situation is dealing with.? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about When performance of promise becomes impossible or illegal by occurrence of an unexpected event or change of circumstances beyond the contemplation of parties, the contract becomes void. The situation is dealing with.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for When performance of promise becomes impossible or illegal by occurrence of an unexpected event or change of circumstances beyond the contemplation of parties, the contract becomes void. The situation is dealing with.?.
When performance of promise becomes impossible or illegal by occurrence of an unexpected event or change of circumstances beyond the contemplation of parties, the contract becomes void. The situation is dealing with.? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about When performance of promise becomes impossible or illegal by occurrence of an unexpected event or change of circumstances beyond the contemplation of parties, the contract becomes void. The situation is dealing with.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for When performance of promise becomes impossible or illegal by occurrence of an unexpected event or change of circumstances beyond the contemplation of parties, the contract becomes void. The situation is dealing with.?.
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