As states order closure of non-essential businesses, differing federal and state standards can make it challenging for business and real estate owners to determine whether their busineses are essential and can remain open.
Read MoreParties entering into contracts during this historic pandemic may want a COVID-19 specific force majeure clause. Since these clauses cover a force majeure event that is already occurring, they require different considerations than typical force majeure clauses.
Read MoreBusiness owners should review their contracts and take steps to assure that contract notice provisions include options that will reach the business during a period of mandatory seclusion.
Read MoreThroughout the nation, businesses and real estate owners are facing financial challenges due to coronavirus. If the businesses aren't closed altogether, they may have fewer customers and lower profits, if any. And there are the additional out-of-pocket costs associated with combating COVID-19. In some instances, business interruption insurance or contract risk allocation language may provide relief from COVID-19 financial losses.
Read MoreMarket changes and governmental requirments due to coronavirus may trigger contract force majeure provisions and excuse parties from contract performance.
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