Here's a discussion between fellow FortyEight Shortland barrister Rob Latton and myself about the doctrine of frustration of contracts in the context of C-19 in NZ.
Contract frustration is a common law concept. Where a contract becomes impossible to perform or performance of it becomes radically different to what was reasonably contemplated at inception, it may be regarded as frustrated and therefore at an end.
The specific consequences of frustration and the linked powers of the Court are dealt with in the Frustrated Contracts Act 1944, now enshrined in the Contract and Commercial Law Act 2017 from s. 60 onwards.
Common law tells us if the contract is frustrated, the legislation tells us what should happen as a result.