In today’s COVID-19 environment, businesses are being told to close their doors and send employees homes. As such, many business owners are struggling to earn enough revenue to be able to meet their contractual obligations to their vendors, landlords and banks, let alone make payroll. With financial disaster looming for so many businesses, do standard contracts, loan documents or leases consider “Acts of God” as a way to push pause on a business owner’s obligation to preform until such time that the world returns to normal? The simple answer is, “maybe”. It depends on whether your contract has a Force Majeure clause.
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