Modify and terminate the contract if financial impossibility

The financial performance impossible of the contract set forth because of the financial inability of one who undertake stems from external factors and attributing to the contracting parties is impossible. In the event of financial impossibility the present procedures (based on existing regulation) the possibility of the contract termination، the obligee is in compliance with the conditions، while it seems quite possible to modify the contract should be considered. Impossibility is committed relationship with his or her obligations fulfilled by simply not applicable due to external factors. In this article، we will try to apply the circumstance of the express option to survey to some extent the reasons for the contract adjustment. Key lexicons: obligation، delivery، impossibility of performance، option and modification (adjustment).