LS283 Chapter 9: Termination and Enforcement of Contracts

• School: University of Waterloo
• Department: Legal Studies
• Course: LS283
• Professor: Darren Charters

Document Summary

Several ways in which a contract can be brought to an end (legal term, When both parties fulfill their contractual obligations to each other, they have performed the contract. Generally the ideal way of concluding a contractual relationship. Parties are always free to voluntarily bring their contract to an end. Both parties could agree to simply walk away from the agreement; or one party could pay a sum to the other side by way of settlement in exchange for agreeing to end the contract. When a contract is frustrated, it is brought to an end. Doctrine of frustration considers whether events subsequent to creation of the contract provide a legal excuse for non- performance. Frustration terminates a contract upon occurrence of an. "unforeseen catastrophic event that makes the contract impossible or prevents the contract from being performed in a manner at all similar" to what the parties envisioned when they entered into the contract.