Import Tariffs and Force Majeure: Does Your Contract Forsee the Unforeseeable?
Recent tariff impositions raise a new question: does your contract address and allocate risk for tariff-related cost increases for things like construction materials?
COVID-19 Ignites Interest in ‘Frustration of Purpose’
Commercial leases usually include “force majeure” clauses that excuse parties from performing non-monetary obligations during national disasters or civil unrest. But these generally offer no relief from tenant rent obligations.
Housing Developers Warn of Risks to Projects
Housing developers warn that the effects of the coronavirus pandemic could trigger penalty clauses that threaten the completion of projects and require state and federal intervention.
