The Law Dictionary

FROZEN ACCOUNT

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

A bank account that is suspended with money unable to be withdrawn. … [Read more...]

FRUSTRATION

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

Also known as frustration of purpose or the inability to complete a contract because an item has fundamentally changed, e.g. a bottle of wine that was to have been purchased was discovered to be incorrectly labeled or a cow to be purchased had died during negotiation. … [Read more...]

FROZEN ASSET

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

An asset which cannot be bought or sold. … [Read more...]

FRUSTRATION OF CONTRACT

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

When an unforeseen event makes the purpose of the contract unable to be completed or fulfilled, such as the destruction of items, a law which renders the actions contemplated under the agreement illegal. Under certain circumstances it will automatically terminate a contract, such as where (i) the contract objectives cannot be achieved or performance has been rendered impossible … [Read more...]

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