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How Does COVID-19 Affect My Contractual Obligations?

March 25, 2020

The effects of COVID-19 have rippled throughout the world, placing immense strain on public health providers and businesses of all sizes. While developing a way to contain and control COVID-19 is of upmost importance, it is also necessary for individuals and businesses to understand their contractual rights and obligations during this time. This update is aimed at helping business owners understand how the outbreak of COVID-19, and the preventative measures being taken, may impact their ongoing contractual obligations. We will provide you with a brief overview on: force majeure clauses and the doctrine of frustration; and practical considerations for handling the effects of COVID-19. Force Majeure Clauses and the Doctrine of Frustration Force Majeure Clauses It is always a possibility that business transactions may be rendered impossible to complete due to extreme and unavoidable events that are beyond the control of the transacting parties. Such extreme and unforeseeable events are often...

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