These clauses are key in determining whether a party is allowed to delay performance or actually get out of certain obligations in the event of unforeseen or uncontrollable events which make performance of the underlying obligation commercially impracticable, illegal, or impossible. Certainly now, with the Coronavirus creating all sorts of monumental disruptions in business as cancellations and delay, affecting all sorts of industries: hotel, travel, events, professional sports tournaments, concerts, and real estate closings.
Questions arise as to whether underlying contracts provide for a party who cannot fulfill the contract’s terms, for reasons outside of one’s control, to not be considered in default. Not all force majeure clauses are the same, as it depends upon the purpose of the contract and the drafting of the clauses themselves.
In real estate contracts, due to the COVID-19 crisis, force majeure language has enabled buyers and sellers to delay and/or enforce parties to close. Other issues surrounding force majeure clauses include the role of notarization of documents for closings, especially due to the governmental order of Stay at Home. Our lawyers at Oppenheim Law are remote online notaries, and our sister company, Weston Title & Escrow, is able to handle remote online notarizations in order to facilitate closings.
We are able to assist you in reviewing the force majeure language within your contract, and strategizing with you as to its enforceability as well as negotiating and drafting Force Majeure clauses in new contracts.
Our team at Oppenheim Law is able to review your commercial lease, reviewing with you your options, and guiding you with a course of action. Feel free to contact us online or give us a call at 954-384-6114 and we will be glad to respond to your inquiry.
We are here for you and have been for over 30 years.
2500 Weston Rd #209
Fort Lauderdale, FL 33331