What is Contractual impossibility and risk: frustration and common mistake?

What is Contractual impossibility and risk: frustration and common mistake? 150 150 Affordable Capstone Projects Written from Scratch

A owns a tanker that has suffered a massive engine explosion. A finds out from an independent source that a ship owned by B is the closest vessel to the stricken tanker. B agrees to divert his vessel in order to render assistance to the crew of A’s tanker, provided A will agree to a minimum hire charge of £50,000, ‘irrespective of whether B’s vessel is used or not’. A accepts B’s offer but finds out within minutes that his tanker has already sunk with the loss of all hands. Which one of the following statements most accurately represents the legal position of A?Discuss the answer with an essay


 

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