Frustration of Purpose

Under contract law, an excuse that can be used by a buyer for non-performance of contractual duties when a later and unforseen even impedes the buyer's purpose for entering into the contract, and the seller at the time of entering the contract, knew of the buyer's purpose.

Definition from Nolo’s Plain-English Law Dictionary

Definition provided by Nolo’s Plain-English Law Dictionary.

August 19, 2010, 5:16 pm