HOW DOES THE CORONAVIRUS AFFECT YOUR BUSINESS CONTRACTS?
Doctrine of Frustration Explained
As many businesses are affected by the escalating coronavirus pandemic, they need to assess what legal or contractual avenues might be available to them if it becomes impossible to perform their obligations under contracts. One potential remedy may be contractual force majeure provisions, which we discuss in detail in this guide. Another is the doctrine of frustration, which may be relevant if the contract contains no force majeure clause, or the force majeure clause is incomplete or vague..