Force Majeure
Force Majeure refers to unforeseen events or circumstances beyond the control of parties involved in a contract, which prevent them from fulfilling their obligations. Examples include natural disasters, wars, or pandemics. When these events occur, they may excuse or delay performance without liability, allowing parties to avoid penalties for non-compliance. Essentially, it's a legal safety net to recognize that sometimes circumstances arise that are impossible to predict or control, freeing both parties from blame when obligations can't be met due to these extraordinary situations.
Additional Insights
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Force majeure refers to unforeseen events that prevent parties from fulfilling a contract. These events are typically beyond anyone's control and can include natural disasters (like earthquakes or floods), war, or pandemics. When a force majeure clause is included in a contract, it allows affected parties to delay or avoid their obligations without penalty, provided they can demonstrate that the event was truly unmanageable. Essentially, it recognizes that sometimes, unexpected circumstances can arise that make it impossible to meet agreed-upon terms.