Is the current Goverment shut down an example of force majeure in a realestate contract ? I'm unable to close the contract because of the shut down and there is an extention provision due to Force majeure
Answered on: 10/04/13, 9:17 am by Barry Stein
Perhaps, depends on what the rest of the contract says and what is the exact reason you cannot close, I assume it has to do with financing issues. Definition per dictionary of force majeure The term force majeure relates to the law of insurance and is frequently used in construction contracts to protect the parties in the event that a segment of the contract cannot be performed due to causes that are outside the control of the parties, such as natural disasters, that could not be evaded through the exercise of due care. You need to hire an attorney
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