Force majeure is defined in the Black’s Law Dictionary as “an event or effect that can be neither anticipated nor controlled.” It is a contractual provision allocating the risk of loss if performance becomes impossible or impracticable, especially as a result of an event that the parties could not have anticipated or controlled.[1] These areContinue reading “Contractual Clauses – Force Majeure”
Tag Archives: commercial contract
COVID-19: Impact on Commercial Contracts
Executive Summary Coronavirus is amongst the foremost causes for concern in present times has caused a lot of destruction to mankind. Commercial contracts have become frustrated and impossible to perform due to the pandemic. The parties obliged to perform their duty are afraid of the consequences followed by delinquency. This article talks about concepts likeContinue reading “COVID-19: Impact on Commercial Contracts”
