What is Frustrating Purpose in a Contract

The video tutorial discusses how parties can exit a contract when unforeseen changes affect the contract's purpose. It differentiates between impracticability and frustration of purpose, focusing on the latter. Examples include changes in zoning affecting a retail lease and personal incapacity affecting a service contract, like piano lessons. These changes, if not anticipated, can allow parties to exit the contract.

What is the concept that allows a party to exit a contract due to unforeseen changes?

How does the concept of supervening purpose relate to changes in a contract?

Can you provide an example of a situation where a party might be able to escape a contract?

What factors must be considered to determine if a contract can be exited due to impracticability?

In what ways can a change in circumstances affect the underlying purpose of a contract?