Sammy watched a commercial on TV that invited him to buy 100 silver coins for $1.00 a piece. He contacts the company and they send him a contract to sign. He and the company sign the contract but the signing process takes about one week to complete. Once it is completed, the company realizes that the market place for silver has drastically changed. Silver has jumped 100% now in value in one week. The company now has to sell the silver coins to Sammy and will lose lots of money and any expected profits form the original contemplated sale. The company wants out of the agreement and claims that there is a “substantial change in circumstances” and thus the contract is defeated by the defenses of “frustration”, “commercial impracticability” and/or “force majeure” ---- explain each of these defenses and explain if they will work or not to defeat any breach of contract claim that Sammy files to force the company to perform the original agreement.

Sammy watched a commercial on TV that invited him to buy 100 silver coins for $1.00 a piece. He contacts the company and they send him a contract to sign. He and the company sign the contract but the signing process takes about one week to complete. Once it is completed, the company realizes that the market place for silver has drastically changed. Silver has jumped 100% now in value in one week. The company now has to sell the silver coins to Sammy and will lose lots of money and any expected profits form the original contemplated sale. The company wants out of the agreement and claims that there is a “substantial change in circumstances” and thus the contract is defeated by the defenses of “frustration”, “commercial impracticability” and/or “force majeure” ---- explain each of these defenses and explain if they will work or not to defeat any breach of contract claim that Sammy files to force the company to perform the original agreement.