By Chandrasekhar Tampi, Senior Partner & Ankur Khandelwal, Partner, Kochhar & Co.
As the spread of the COVID-19 pandemic casts a large shadow over commerce and industry, contracts have become difficult or even impossible to perform. Contracts have to be reconsidered, contractual rights and obligations must be reassessed and the way in which performance can be completed has to be examined.
It is in this context that we have, hereinbelow, attempted to address questions that have been frequently raised with respect to force majeure.
What is force majeure? Is it provided for in the law of contract in India?
Force majeure is an occurrence or an event that cannot be foreseen by the parties to a contract. Such an occurrence prevents a party from completing something that they had undertaken to do under the contract. A force majeure event may be an act of nature, such as floods or hurricanes or an act of man such as riots, strikes, or wars. Read more...
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