◾Firstly, performance as agreed must be impracticable [30] . Clearly, impracticable is a more flexible test than impossible. How much more flexible is a question left to the courts.
◾Secondly, the threshold to be met is the existence of an event that changed a basic assumption (common to both parties) on which the contract was made.
◾Thirdly, impracticability cannot result from the fault of the party seeking to be excused.
◾Fourthly, that party must not have assumed a "greater obligation than the law imposes", as the UCC puts it.
◾Firstly, performance as agreed must be impracticable [30] . Clearly, impracticable is a more flexible test than impossible. How much more flexible is a question left to the courts. ◾Secondly, the threshold to be met is the existence of an event that changed a basic assumption (common to both parties) on which the contract was made. ◾Thirdly, impracticability cannot result from the fault of the party seeking to be excused. ◾Fourthly, that party must not have assumed a "greater obligation than the law imposes", as the UCC puts it.
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