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In contract law, force majeure [1] [2] [3] (/ ˌ f ɔːr s m ə ˈ ʒ ɜːr / FORSS mə-ZHUR; French: [fɔʁs maʒœʁ]) is a common clause in contracts which essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties, such as a war, strike, riot, crime, epidemic, or ...
If you were in the process of buying or selling a home, review the purchase agreement for an “act of God” or force majeure clause. Depending on the contract, you might be able to get your ...
The clause usually forms part of a parent company guarantee that is intended to limit the applicability of the doctrines of impossibility or frustration of purpose. The term for the clause comes from a colloquial expression that a task must be accomplished "come hell or high water", that is, regardless of any difficulty.
A force majeure clause is designed to protect against failures to perform contractual obligations caused by unavoidable events beyond a party’s control, such as natural disasters. Force majeure clauses are primarily used to identify circumstances in which performance of contract may be forgiven. [6] An example:
The hardship clause is sometimes used in relation to force majeure, particularly because they share similar features and they both cater to situations of changed circumstances. The difference between the two concepts is that hardship is the performance of the disadvantaged party becoming much more burdensome but still possible.
The language of real estate contracts is typically written to protect buyers. And in many cases, a home seller who reneges on a purchase contract can be sued for breach of contract.
In an accord contract it is typical (though not legally necessary) that the consideration supplied is less than bargained for in the original contract. Some accord contracts also substitute payment in cash for payment in kind (e.g. rather than paying a cash sum, the debtor gives the creditor something of value, such as a car, boat, real estate ...
Clausula rebus sic stantibus is the legal doctrine allowing for a contract or a treaty to become inapplicable because of a fundamental change of circumstances. In public international law the doctrine essentially serves an "escape clause" to the general rule of pacta sunt servanda (promises must be kept).