I have an option with a Producer expiring next week. I have not heard from this person in a while. I am assuming they are 1) not renewing 2) haven't looked at the agreement in a while to see when it ends 3) plan on renewing this week.
However, there's a clause in the contract called "Force de Majeure". This basically means that if there's a force of nature or act of G-D during the time of the option that the contract can be suspended until things get better. Here's more of a legal explanation. Force majeure refers to a clause that is included in contracts to remove liability for natural and unavoidable catastrophes that interrupt the expected course of events and restrict participants from fulfilling obligations.
I don't think there's any lawyers on this site, but my guess is that the Corona Virus is a Force de Majeure. Any thoughts would be appreciated.
However, there's a clause in the contract called "Force de Majeure". This basically means that if there's a force of nature or act of G-D during the time of the option that the contract can be suspended until things get better. Here's more of a legal explanation. Force majeure refers to a clause that is included in contracts to remove liability for natural and unavoidable catastrophes that interrupt the expected course of events and restrict participants from fulfilling obligations.
I don't think there's any lawyers on this site, but my guess is that the Corona Virus is a Force de Majeure. Any thoughts would be appreciated.
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