Supervening Hardship as Subdivision of the General Frustration Rule: A Comparative Analysis with Reference to Anglo-American, German, French and Greek Law

The problem of 'frustration of contract' concerns the effect of supervening changes in circumstances, unforeseen and unforeseeable at the time of conclusion of the contract, on the obligations stemming from it. The present article addresses the more specific problem of 'supervening hardship' which arises when the performance, though physically (and legally) still possible, has become excessively difficult, that is, economically far more onerous than anticipated by the parties. The article is mainly a comparative analysis with reference to Anglo-American, German, French and Greek law. The analysis focuses on the case law of each legal system, without neglecting, at the same time, significant new developments in the field of statute law (such as the new provision of the German Civil Code - 313 BGB - concerning the fundamental change in circumstances).