Frustration Of Purpose

Business, Legal & Accounting Glossary

Definition: Frustration Of Purpose




What is the dictionary definition of Frustration Of Purpose?

Dictionary Definition


n. sometimes called commercial frustration, when unexpected events arise which make a contract impossible to be performed, entitling the frustrated party to rescind the contract without paying damages. Example: Jack Appleseller contracts to buy a commercial building to rent out, and, while the sale is pending, the building is condemned by the city as unsafe for any use. Mr. Appleseller can back out of the purchase without obligation.


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Frustration Of Purpose. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/frustration-of-purpose/ (accessed: September 22, 2021).
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Frustration Of Purpose. PayrollHeaven.com. Retrieved September 22, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/frustration-of-purpose/

Definition Sources


Definitions for Frustration Of Purpose 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: 28th April, 2020 | 0 Views.