Companies consider force majeure as coronavirus spreads

- As the coronavirus outbreak in China shows no signs of abating any time soon, some companies that buy and sell goods in the Chinese market are considering the legal defense of force majeure.

Legal experts said that the coronavirus likely qualifies, but any company invoking force majeure would need to show that it is effectively impossible to perform their contractual duties as a result of the outbreak. Force majeure clauses rarely mention diseases, but more frequently provide relief in the event of unforeseen"acts of government," Miller said. Chinese authorities have ordered lockdowns and closed factories in the wake of the coronavirus, so the"act of government" language could allow some firms to invoke force majeure, she said.Cross-border deals often stipulate that disputes arising out of the contract will be decided by a particular court or arbitration body.

Barcelona is so so far away from nCoV epicentre...what's the panic people? Get on with it...give us mobile nerds chance to make our pilgrim and meet up at this event!

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Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Singapore companies running malls and stores in China affectedUncertainty over when business operations in China will resume normalcy is continuing to dog some Singapore-listed companies, including Zhongmin Baihui Retail Group, which manages an outlet mall in Changsha, the capital of Hunan province, about 350km from the epicentre of the coronavirus outbreak in Wuhan.. Read more at straitstimes.com.
مصدر: The Straits Times - 🏆 8. / 63 اقرأ أكثر »