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Contract, anticipatory breach of
 

 

This happens when one party to a contract announces in advance that he does not intend to perform his part. The other party may then sue immediately for anticipatory breach or he may refrain from taking action and wait until the contract date. If he does this he may fail to recover anything if, by that time, the contract has become impossible through the fault of neither party. i.e. has been frustrated.

Reference: The Penguin Business Dictionary, 3rd edt.