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Law of Contract III (Discharge by Acceptance of Breach (Options for the…

- - - - common law
        
        1)the parties do not have to perform anything under the contract after the date of the frustration.
        2)the frustration would not affect anything which takes place before the date of the frustration
      - Frustrated Contracts Act (FCA)
        
        1) Any money paid under a contract which has become frustrated is now recoverable by the party who paid it
        
        FCA does not apply to
        1)charterparties
        2) contracts of insurance
        3)contracts for the sale of goods where the goods have perished
        
        2)Any money which was due to be paid before the frustrating event is now no longer payable
        
        3)If a party has incurred some expense under the contract, that sum can be recovered.
        
        4) If one party has partly performed his side of the contract before the frustrating event which gave the other party some valuable benefit, then a reasonable sum must be paid to first party as compensation.
- - - - 1) injunctions
        An injunction is a court order to a party who is in breach to stop doing something which he had
        promised NOT to do in the contract
- - - - 3 conditions apply by discharge:
        1) performance must be strictly in accordance with the terms of the contract
        2) when a specific time is fixed in the contract for performance of the contract and contract must be performed within that time.
        3) when the performance is complete