Pandemic Contract Language
With all the legal contracts in various industries being tested by the Covid-19 Shutdown, we’ve analyzed how pandemic contract terms need to look in the future.
Certainly, nearly every contract will need to consider the effects of what we have experienced with Covid-19.
- What if the government shuts down businesses in the future?
- What if a party to the contract refuses the perform in the absence of a government-forced shut-down but claims fear of a pandemic? What if the other party refuses to receive the performance due to a pandemic and fear of contamination?
- What protective terms will be enforceable?
- Can you foreclose during a pandemic? If not, what if your borrower’s default causes you to default with a third party?
- Is your collateral really collateral if your governor or the president issues an order prohibiting you from collecting that collateral during a pandemic?
- Can advertisers or clients claw back revenue during a pandemic if something is out of your control?
- How does pandemic contact language compare with act of God clauses?
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