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How are the rights of the parties adjusted following frustration of their contract?

      

How are the rights of the parties adjusted following frustration of their contract?

  

Answers


Maurice
Under the provisions of the Law Reform (Frustrated Contracts) Act, 1943, when a
contract is frustrated the rights of parties are adjusted as follows:
(i) The contract is terminated.

(ii) Any money paid is recoverable.

(iii) Money paid ceases to be payable.

(iv) If a party has suffered loss as a result of performance, the court may order the other
party to pay a sum of money for the loss.

(v) If a party has derived a benefit other than financial, the court may order such party to
pay to the other a sum of money which must be less than the benefit so derived.
maurice.mutuku answered the question on May 2, 2018 at 05:52


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