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Law Reform (Frustrated Contracts) Act 1943 (1943 c 40)

The 1943 Act addresses the legal implications of contracts that become impossible to perform due to unforeseen events after the signing. It aims to mitigate unfairness resulting from the application of the doctrine of frustration, which automatically discharges the contract when performance becomes impossible. The Act allows for the recovery of money paid or compensation for benefits conferred prior to the frustrating event, thereby seeking a fairer distribution of losses between the parties. It was enacted to ensure equitable outcomes in circumstances where the parties are left without fault but the contract cannot proceed as intended.

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½Û×ÓÊÓƵ traffic light system shows the status of legislation and cases so you are always using up-to-date law while historical versioning and legislative timelines lets you see exactly what has changed in legislation over time.

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Law Reform (Frustrated Contracts) Act 1943 (1943 c 40)

The 1943 Act addresses the legal implications of contracts that become impossible to perform due to unforeseen events after the signing. It aims to mitigate unfairness resulting from the application of the doctrine of frustration, which automatically discharges the contract when performance becomes impossible. The Act allows for the recovery of money paid or compensation for benefits conferred prior to the frustrating event, thereby seeking a fairer distribution of losses between the parties. It was enacted to ensure equitable outcomes in circumstances where the parties are left without fault but the contract cannot proceed as intended.

Quick and comprehensive access to the most accurate, up-to-date legislation.

½Û×ÓÊÓƵ traffic light system shows the status of legislation and cases so you are always using up-to-date law while historical versioning and legislative timelines lets you see exactly what has changed in legislation over time.

TAKE A FREE TRIAL

Law Reform (Frustrated Contracts) Act 1943 (1943 c 40)

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