What impact will the coronavirus have on performance of contracts?
Partner & Deputy Head of Civil & Commercial Litigation
From general commercial contracts where you may wish to terminate or delay a contract or be a victim of the same, or special occasions where you may have put down significant deposits. Insurance cover may not always be sufficient in these circumstances to claim back compensation or deposits. We can advise you if you are unsure of your rights.
A Force Majeure clause may assist in your liability for what could otherwise have been a breach of contract. If there is no such clause in your contract you can seek to rely on the common law doctrine of frustration of a contract. Frustration occurs whenever the law recognises that without default of either party a contractual obligation has become incapable of being performed.
Generally a party shall not be liable for any failure of or delay in the performance of an agreement for the period that such failure or delay is beyond the reasonable control of a party and provided the legal requirements are fulfilled.
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If you are a creditor or an Insolvency Practitioner and would like to talk to one of our Commercial Debt Resolution Team . Call us today on 020 3551 8500 or fill in our Contact Us form to arrange a callback at your convenience.