| 释义 |
change of circumstances
(in contract law) The situation in which the position of one of the contracting parties is significantly altered after the contract is concluded. In such cases, the contract can be discharged if the situation meets the threshold of frustration or if there is a force majeure clause that covers the specific event. If not, the contract should be performed as agreed, even if this is significantly more onerous or no longer profitable for one of the parties. Economic hardship does not excuse non-performance. In English contract law there is no obligation on the parties to renegotiate if circumstances change. This is different from some other jurisdictions; for instance, the UNIDROIT Principles of International Commercial Contracts state that in case of economic hardship the parties should renegotiate. However, courts can take into account significant changes in the law or economy when interpreting contractual terms so that they reflect the intentions of the parties. If circumstances change after a representation was made, but before the parties conclude the contract, this should be reported by the representor to the representee (With v O’Flanagan [1936] Ch 575 (CA)). |