What Is the Effect of Frustration on a Contract? What

question 8

Essay

What is the effect of frustration on a contract? What, at common law, happened to a deposit paid prior to a contract being frustrated?

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Definitions:

Misspelled

Incorrect spelling of a word.

Indorsement

The act of signing one's name on the back of a cheque or negotiable instrument, thereby transferring its ownership or altering its terms.

Negotiating the Instrument

Refers to the process of bargaining or discussing the terms of a financial document, such as a check or a bill of exchange, to reach an agreement.

Restricting Payment

Implies conditions or limitations placed on the distribution or release of funds.