avoidance of contract

avoidance of contract definition - business

avoidance of contract

Legal termination of a contract when an event renders it impossible or inequitable for one or both parties to successfully complete the terms of the contract. For example, a New Orleans wholesale supplier would almost certainly have been unable to fulfill delivery commitments in the days following hurricane Katrina.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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