MGMT 0130 Lecture Notes - Lecture 12: Fiduciary, W. M. Keck Observatory, Intellectual Disability
10 Feb 2013
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Document Summary
The doctrine of frustration is invoked when the contracting parties are both mistaken about some future set of circumstances that prevents them from carrying out their obligations pursuant to the contract. When may the defence of non est factum be raised. When there is a radical difference between what a person signed and what the person thought he was signing. Common law illegality renders unenforceable agreements that are contrary to public policy. Shelly hires james to steal her neighbour"s dog (because it barks a lot and the owners do nothing about it). Shelley paid james according to the terms of the contract, but james did not follow through with his end of the bargain. The contract is defective because it is illegal. An entrepreneur sells his successful home baking business to a supermarket chain. He signs an agreement that bars him from setting up a bakery business in the future.
