commercial frustration
Definition from Nolo’s Plain-English Law Dictionary
An unforeseen and uncontrollable event that excuses a party to a contract from performing his or her duties under that contract. For example, a landlord can break a lease if the property she agreed to rent accidentally burns down before the tenants move in.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:12 pm