Contracts—termination and contractual claims and remedies

Introduction

This overview is a guide to the Banking & Finance content within the Contracts—termination and contractual claims and remedies subtopic, with links to the appropriate materials.

There are a number of ways in which a contract may be brought to an end.

A contract may be brought to an end:

1. •

   where one party is in breach of contract, entitling the other party to terminate the contract (termination for breach of contract)

2. •

   where one party is entitled to rescind the contract by reason of the other party’s misrepresentation, undue influence or duress (rescission)

3. •

   where a contract is void by reason of mistake, non est factum or statute (void contract)

4. •

   where the parties agree to bring the contract to an end (discharge by agreement)

5. •

   where the contract provides for termination in the event of force majeure (force majeure)

6. •

   where some unforeseen event prevents the parties from performing the contract (frustration)

This overview also looks at various issues relating to remedies for breach of contract, including limitation, damages, and causation and remoteness.