Skip to main content

Posts

Showing posts from May 3, 2020

FORCE MAJEURE EFFECTS ON CONTRACTS IN INDIA DURING COVID-19

The novel corona virus or COVID-19 outbreak has managed to take the whole world into hostage within few months, and disrupted the lives of millions across the globe and the global economy has been hit the hardest with the markets across the world also taking a tumble amid the virus outbreak. The businesses have suffered with multiple contracts and transactions being terminated. The Governments across the globe are implementing stringent policies including lockdown to control the coronavirus outbreak. 
The pandemic today, especially in India, after the nationwide lockdown has gravely affected the business which has now put forth unprecedented challenges and impediments to businesses in conducting their normal day to day operations by causing delays in the performance of contracts and transactions With parties being unable to fulfill their obligations under various agreements. 
A common question which arise is whether the inability of a party to perform its obligations under an underlying…