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“The common element [of the doctrines of both common mistake and frustration] is … that both doctrines are concerned with the allocation of risk of unforeseen events.” Ewan McKendrick Contract Law: Text, cases and Materials (Oxford: OUP, 2005) p.636. Disc
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Law of Obligations 1: The Law of Contract ASSESSMENT 4 Question: "The common element [of the doctrines of both common mistake and frustration] is ... that both doctrines are concerned with the allocation of risk of unforeseen events." Ewan McKendrick Contract Law: Text, cases and Materials (Oxford: OUP, 2005) p.636. Discuss, with reference to relevant case law. 8 May 2007 This essay will examine the doctrine of frustration and the common mistake doctrine with focus upon the allocation of risk of unforeseen events. It will be shown how important it is to analyse risk clearly and adequately in drafting of contracts and that the negotiators should always ask themselves the crucial question1: "Who should bear the risk that it may prove impossible to perform this contract?" Contract law is founded on the principle that liability for non-performance is strict. While this seems quite harsh, it is substantiated with the belief that parties receive valuable consideration for...
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