| The Recession May Be Bad, But It Isn't Frustrating One of the reasons a contract can be abandoned is that the performance of the contract is ‘frustrated’ – something happens which makes it impossible to complete. In August 2007, the builders Barratt contracted with site owner Gold Group Properties Ltd. to build a large number of houses and flats. The nature of the agreement was that once the properties were built, they would be sold and the sale proceeds would be shared between Barratt and Gold. The contract was in the form of a ‘development agreement’.  |