Definition of Legal Terms Performance obligations in a contract can be discharged if performance by one or both parties has been rendered “impossible” or “commercially impracticable,” or if there has been a “frustration of purpose” of one of the parties to the contract by events occurring after the contract was signed. Impossibility is a strict, objective standard and means that not only could the party (or parties) affected by events not perform the terms of the contract, but neither ...

Register for Complete Access (Valid Email Required)

By registering on MeetingsNet now, you'll not only gain access to Impossible or Impractical?, you'll get exclusive access to a large archive of premium content.

Already registered? here.