This document can be used as a template for a notice of frustration informing the counterparty that the contract is void due to a frustration event (e.g. coronavirus) and would render the further performance of the contract impossible / illegal / fundamentally different from the original agreement.
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Please review the document carefully and make any final modifications to ensure that the details are correct before sending to the addressee.
The document titled 'Notice of Frustration of Contract' is an important legal document that serves to inform the counterparty about the frustration of a contract due to unforeseen circumstances. The document begins with a brief introduction, providing the necessary context for the reader. It states that the agreement between the parties, referred to as the 'agreement,' is no longer valid due to the occurrence of an event, namely the coronavirus pandemic.
The detailed description of the document can be divided into several sections:
1. Title: The title clearly indicates the purpose of the document, which is to notify the counterparty about the frustration of the contract.
2. Content: The content of the document consists of various sections, including the account job company, account job address, account email, to: counterparty, address, current date, and the main body of the letter. Each section serves a specific purpose in conveying the message effectively.
3. Introduction: The introduction provides a concise overview of the document, stating that the agreement is no longer valid due to the occurrence of an event. It also mentions the specific clause in the agreement that allows for frustration of the contract.
4. Notice of Frustration: This section is the main body of the letter, where the sender formally notifies the counterparty about the frustration of the contract. It clearly states that the agreement is now void and that the sender is no longer bound by its terms.
5. Governing Law: The document concludes by mentioning that the notice shall be governed by and construed in accordance with the same laws as the agreement. This ensures that the legal framework established in the agreement continues to apply to the notice of frustration.
In summary, the 'Notice of Frustration of Contract' is a crucial document that highlights the importance of informing the counterparty about the frustration of a contract. It provides a detailed introduction to the entire document and breaks down each section to ensure clarity and understanding.
To effectively use the 'Notice of Frustration of Contract' document, follow these steps:
1. Begin by filling in the necessary information: Enter the account job company, account job address, and account email in the respective sections. This ensures that the document is personalized and includes the sender's contact details.
2. Address the counterparty: Fill in the counterparty's address in the designated section. Make sure to provide accurate and up-to-date information to ensure the notice reaches the intended recipient.
3. Specify the current date: Enter the current date in the designated section. This helps establish the timeline of the notice and adds a sense of urgency.
4. Start the letter: Begin the letter by addressing the counterparty in a professional and courteous manner. Use appropriate salutations and maintain a formal tone throughout the letter.
5. Explain the frustration of the contract: Clearly state the reason for the frustration of the contract, emphasizing the occurrence of the coronavirus pandemic. Reference the specific clause in the agreement that allows for frustration of the contract.
6. Declare the contract as void: Clearly state that the agreement is now void and that the sender is no longer bound by its terms. This ensures that both parties are aware of the legal implications of the frustration.
7. Mention governing law: Conclude the letter by stating that the notice shall be governed by and construed in accordance with the same laws as the agreement. This ensures consistency and reinforces the legal framework established in the agreement.
By following these steps, you can effectively use the 'Notice of Frustration of Contract' document to inform the counterparty about the frustration of a contract and assert your rights in a clear and concise manner.