A party whose own default causes the event relied upon as frustrating a contract cannot invoke the doctrine of frustration. Where terms of settlement constitute an accord and conditional satisfaction, a party who elects to enforce the settlement by seeking specific performance or damages cannot also proceed on the original causes of action. General releases in terms of settlement are read down by reference to the parties' contemplation, and a defaulting fiduciary seeking to rely on a general release must demonstrate that the other party had full knowledge of the nature and extent of the breaches.
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