1. A new international agency was set up by the UN in London at the beginning of 2020 called the “International Piracy Rescue Agency” . Its remit is to provide for an international standing rapid armed response unit to stop piracy on the High Seas. The IPRA contracted to buy 3 state of the art ships from 3 different contractors deliverable by 31 December 2020 and each contractor was paid a sum of £10m on a contract price of £20m.
Advise the IPRA whether it can use the doctrine of Frustration to get back any of its deposits.
2. Discuss the extent to which the Parol Evidence Rule is a presumption rather than a strict legal rule.
