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Impossibility existing subsequent to the formation of contract is called_____________.
- a)Subjective Impossibility
- b)Subsequent impossibility
- c)Supervening impossibility
- d)None of these.
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Impossibility existing subsequent to the formation of contract is call...
A contract to do an act, which after the contract is made, becomes impossible, or by reason of some event which the promisor could not prevent, becomes void when the act becomes impossible or unlawful. This is called “Supervening Impossibility”, i.e. impossibility arising subsequent to the formation of the contract. In such a case the contract will be void as soon as such events make the performance of the contract impossible.
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Impossibility existing subsequent to the formation of contract is call...
Subsequent impossibility refers to the impossibility that arises after the formation of a contract. It is also known as supervening impossibility. This means that the contract was valid and enforceable at the time of formation, but due to some unforeseeable event or circumstance, the performance of the contract has become impossible.
Examples of supervening impossibility include situations like:
- Destruction of the subject matter of the contract: If the subject matter of the contract is destroyed or lost due to unforeseeable circumstances, it becomes impossible to perform the contract.
- Death or incapacity of a party: If one of the parties to the contract dies or becomes incapacitated, it may become impossible to perform the contract.
- Change in law: If there is a change in law that makes the performance of the contract illegal, it becomes impossible to perform the contract.
In such cases, the contract becomes void and unenforceable. The parties are discharged from their obligations under the contract. However, if the impossibility was foreseeable or within the control of one of the parties, then the contract may still be enforceable.
It is important to note that subsequent impossibility only applies to situations that were unforeseeable at the time of contract formation. If the parties were aware of the potential for the event or circumstance to occur, then the contract will still be enforceable.
Examples of supervening impossibility include situations like:
- Destruction of the subject matter of the contract: If the subject matter of the contract is destroyed or lost due to unforeseeable circumstances, it becomes impossible to perform the contract.
- Death or incapacity of a party: If one of the parties to the contract dies or becomes incapacitated, it may become impossible to perform the contract.
- Change in law: If there is a change in law that makes the performance of the contract illegal, it becomes impossible to perform the contract.
In such cases, the contract becomes void and unenforceable. The parties are discharged from their obligations under the contract. However, if the impossibility was foreseeable or within the control of one of the parties, then the contract may still be enforceable.
It is important to note that subsequent impossibility only applies to situations that were unforeseeable at the time of contract formation. If the parties were aware of the potential for the event or circumstance to occur, then the contract will still be enforceable.
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Impossibility existing subsequent to the formation of contract is called_____________.a)Subjective Impossibilityb)Subsequent impossibilityc)Supervening impossibilityd)None of these.Correct answer is option 'C'. Can you explain this answer?
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