COVID-19 and Force Majure Contractual Provisions
Volkov Law – It turns out law school was very helpful to practicing law – every first year law student is required to take a contract law class. Now, lawyers are able to apply what they learned in the most unlikely of circumstances – the Covid-19 pandemic. Companies suffering from the shelter in place and business disruptions have to identify and assess liability under contracts with vendors, suppliers and customers. A basic contract provision is a force majure clause which generally excuses a party from performing a contractual obligation when “acts of God” or other unusual occurrences prevent a party from satisfying contractual obligations.
