Business, 22.03.2021 17:40 oh2joy

In the US, when a party alleges that contract performance is impossible or impracticable because of circumsances unforeseen at the time the contract was formed, a court will either discharge the party's contractual obligations or hold the party to the contract. In other words, if a court agrees that the contract is impossible or impracticable to perform, the remedy is to cancel the contract. Under German law, however, a court may adjust the terms of (reform) a contract in light of economic developments. If an unforeseen event affects the foundation of the agreement, the court can alter the contract's terms to align with the parties' original expectations, thus making the contract fair to the parties. When a contract becomes impossible or impracticable to perform, which remedy would a businessperson prefer - rescission or reformation

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In the US, when a party alleges that contract performance is impossible or impracticable because of...

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