p. 42316. Risk, frustration and mistake
- Reza Beheshti, Reza BeheshtiAssistant Professor in International Commercial Law, University of Nottingham
- Séverine SaintierSéverine SaintierProfessor of Commercial Law, Cardiff University
- , and Sean ThomasSean ThomasReader, University of York
Abstract
This chapter presents the key concepts of risk, frustration, and mistake in line with the ownership or possession of property. It starts with the notion of risk by acknowledging that any commercial operation involves risk, but risks can be allocated between parties by the terms of the contract. Additionally, a contract of sale can be affected by mistake or frustration in the same way as any other contract. The Sale of Goods Act 1979 (SGA) provides provisions to deal with mistakes and frustrations in several circumstances. The chapter also considers the Consumer Rights Act 2015 (CRA 2015), which altered and simplified the position of consumer buyers of goods.
