In these unprecedented times of the COVID-19 pandemic, it is important to consider what may happen to your commercial contracts. For example, does COVID-19 prevent performance? We have created a framework to consider when addressing the unique circumstances of today’s environment.
Be aware that in the event there is no force majeure/impossibility provision in the operative contract or by statute, another possible argument is common law impossibility and/or frustration of purpose. However, the availability and contours of these common law arguments will vary based on jurisdiction.
For more resources and LP's response to COVID-19, visit this webpage.