Force Majeure Clause by Covid-19 Pandemic and Aftermath Prediction
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Seminar paper from the year 2020 in the subject Business economics - Law, , language: English, abstract: A force majeure event refers to the occurrence of an event that is outside the control of a contractual party and which prevents that party from performing its obligations under a contract. A party¿s ability to claim relief for a force majeure event depends upon the terms of the contract and how well the contract is drafted. With the COVID-19 pandemic devastating businesses and creating chaos, many businesses face non-performance of their contract with the pandemic as its center of reason....
Seminar paper from the year 2020 in the subject Business economics - Law, , language: English, abstract: A force majeure event refers to the occurrence of an event that is outside the control of a contractual party and which prevents that party from performing its obligations under a contract. A party¿s ability to claim relief for a force majeure event depends upon the terms of the contract and how well the contract is drafted. With the COVID-19 pandemic devastating businesses and creating chaos, many businesses face non-performance of their contract with the pandemic as its center of reason. Though not all force majeure events are triggered by the pandemic, all the triggered events at this moment are because of the pandemic. There are many circumstances that are taken into account when giving relief to the party but those circumstances must be proven by the party requesting relief.
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