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International business transactions

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › International business transactions

  • This topic has 3 replies, 2 voices, and was last updated 9 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • February 17, 2016 at 10:38 am #300793
    mika84
    Member
    • Topics: 99
    • Replies: 149
    • ☆☆☆

    Sir, could you please help me with the following.

    When a party fails to perform any of his obligations, they are exempt from paying damages where the failure to perform was:

    -due to an impediment beyond their control, and
    -they could not reasonably have been expected to take that impediment into account , and
    -not could they have avoided or overcome either the empediment or its consequnces

    My question is: what if the answer suggests one or two of the above, should we choose it ,or the correct answer assumes the combimation of all the three?

    February 17, 2016 at 12:15 pm #300799
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23303
    • ☆☆☆☆☆

    All three needed!

    Think about it – if the impediment was within their control, why should they “get away” with the breach?

    If they could / should have known of the impediment at the time they entered into the contract, why should they “get away” with the breach?

    If they could have avoided either the impediment or its consequences, why should they “get away” with the breach?

    February 17, 2016 at 12:23 pm #300801
    mika84
    Member
    • Topics: 99
    • Replies: 149
    • ☆☆☆

    Ah, now I see. Thank you.

    February 17, 2016 at 3:34 pm #300825
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23303
    • ☆☆☆☆☆

    You’re welcome

  • Author
    Posts
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