Over the last few weeks, we have seen the number of coronavirus (COVID-19) cases worldwide accelerating at an unprecedented rate (the latest figures exceeding 43,000), the World Health Organization (WHO) classifying the situation as a ‘pandemic’, and an increasing number of countries closing their borders.
Businesses have not only seen their share prices tumble, offices close and supply chains disrupted, but are now facing a prolonged period of uncertainty. Companies trying to ride the wave in these tumultuous times will no doubt be looking at existing contracts that they have in place with customers and suppliers, some of which include obligations which may no longer be realistic.
This blog focuses on whether the impact of the coronavirus outbreak would constitute a frustration of a contract or whether relief could be sought from a force majeure clause in an English law contract.
Reach the full article here.