Assessment 4
Law for Business
1) Â Â Â Â Â Â Â Â Two parties, Sharpsell Stores and L Ectronics have entered into a contract.
The typesetters sheath involves Sharpsell Stores agreeing to buy a particular second-hand mini computer from L Ectronics. Both parties have come to the sympathy that L Ectronics leave behind completely overhaul the computer before the delivery. Unfortunately precedent to L Ectronics driveling step forward their side of the agreement the mini-computer was destroyed in a rear.
With this type of situation, neither Sharpsell Stores nor L Ectronics are at present in breach of their contract agreements. L Ectronics could not carry out their side of the agreement because the computer was destroyed.
When a party cannot carry out an agreement due to a fire or any other natural disaster etc, in which it is impossible for the party to carry out his obligations after the agreement and prior to completion, is known as supervening impossibility.
There are two categories within supervening impossibility, rei interitus and constructive total destruction. This particular case falls under(a) the category of rei interitus as the cause of destruction was not the transformation of either party and the destruction was that of an external entity.
If the courts rule out a contractual agreement as being rei interitus, then it would result in the contract being frustrated. An example of rei interitus is the case of Taylor v Caldwell in 1863. One party had booked a music hall so that they could do a serial publication of concerts. Unfortunately the music hall had burned down. It was not the erroneousness of the hall owner and therefor the courts had brought the contract to an end by means of frustration, as the hall owner could in no elan perform his obligation.
However one of the parties will have to...
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