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Simple English definitions for legal terms

economic frustration

Read a random definition: ad interim copyright

A quick definition of economic frustration:

Economic frustration is when something unexpected and uncontrollable happens that prevents someone from fulfilling a contract or achieving a goal. This can be used as an excuse for not being able to perform, but it can also lead to the termination of a contract if the purpose of the agreement is significantly affected. It is important to note that frustration caused by one's own actions is not considered economic frustration, but rather a breach of contract. Temporary frustration can also occur, which suspends the duty to perform until the event causing the frustration is over.

A more thorough explanation:

Definition: Economic frustration is a type of frustration that occurs when a party is unable to perform their contractual obligations due to unforeseeable and uncontrollable circumstances. It is also known as commercial frustration.

Examples:

  • Self-induced frustration: This occurs when a party breaches the contract by their own actions, which prevent the performance. For example, if a contractor fails to deliver the materials on time, causing a delay in the construction project.
  • Temporary frustration: This occurs when an event prevents the performance and legally suspends the duty to perform for the duration of the event. For example, if a natural disaster occurs, preventing the delivery of goods.
  • Frustration of purpose: This occurs when a party's principal purpose is substantially frustrated by unanticipated changed circumstances, and their duties are discharged, and the contract is considered terminated. For example, if a company hires a venue for a conference, but the venue is destroyed by fire before the event, making it impossible to hold the conference.

The examples illustrate how economic frustration can occur due to various reasons, such as a party's own actions, natural disasters, or unforeseeable circumstances that make it impossible to perform contractual obligations. In such cases, the party's duties may be discharged, and the contract may be considered terminated.

Economic Espionage Act | economic-harm rule

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9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
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