Commercial Frustration

Business, Legal & Accounting Glossary

Definition: Commercial Frustration


Quick Summary of Commercial Frustration


An unforeseen and uncontrollable event that excuses a party to a contract from performing his or her duties under that contract. For example, a landlord can break a lease if the property she agreed to rent accidentally burns down before the tenants move in.




What is the dictionary definition of Commercial Frustration?

Dictionary Definition


n. an unforeseen uncontrollable event which occurs after a written or oral contract is entered into between parties, and makes it impossible for one of the parties to fulfil his/her duties under the contract. This circumstance allows the frustrated party to rescind the contract without penalty. Such frustration (called frustration of purpose) could include the destruction by fire of the goods to be purchased, the denial of a permit to construct a building by a potential buyer, or denial of an application for a zoning variance to allow expansion by a contractor.


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https://payrollheaven.com/define/commercial-frustration/
Modern Language Association (MLA):
Commercial Frustration. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 26, 2021 https://payrollheaven.com/define/commercial-frustration/.
Chicago Manual of Style (CMS):
Commercial Frustration. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/commercial-frustration/ (accessed: September 26, 2021).
American Psychological Association (APA):
Commercial Frustration. PayrollHeaven.com. Retrieved September 26, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/commercial-frustration/

Definition Sources


Definitions for Commercial Frustration are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 27th April, 2020 | 0 Views.