This office lease form states the tenants obligations to pay rent and perform all the covenants and agreements of the lease even when the landlord is unable to perform obligations under the lease as a result of any natural causalities.
Alabama Standard Force Majeure Clause
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US-OL1102A2A
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Code § 8-1-191. Current with legislation from the 2023 Regular and Special Sessions. Section 8-1-191 - Protectable interests (a) A protectable interest includes all of the following: (1) Trade secrets, as defined in Section 8-27-2.
Commercial Law and Consumer Protection § 8-1-190. (a) Every contract by which anyone is restrained from exercising a lawful profession, trade, or business of any kind otherwise than is provided by this section is to that extent void.
(1) Damages for breach by either party may be liquidated in the agreement but only at an amount which is reasonable in the light of the anticipated or actual harm caused by the breach, the difficulties of proof of loss, and the inconvenience or nonfeasibility of otherwise obtaining an adequate remedy.
? A valid contract is a legally enforceable agreement between two or more parties for the exchange of goods or services. The elements of a valid contract are (1) offer, (2) acceptance, (3) exchange, and (4) consideration.
Neither party will be liable for inadequate performance to the extent caused by a condition (for example, natural disaster, act of war or terrorism, riot, labor condition, governmental action, and Internet disturbance) that was beyond the party's reasonable control.
What are the three elements of force majeure? In general, for an event to trigger a force majeure clause, it must be unforeseeable, external to the parties of the contract, and serious enough that it renders it impossible for the party to perform its contractual obligations.
Except as otherwise provided by law, the maximum rate of interest upon the loan or forbearance of money, goods, or things in action, except by written contract is $6 upon $100 for one year, and the rate of interest by written contract is not to exceed $8 upon $100 for one year and at that rate for a greater or less sum ...
Void contracts; contracts allowed to preserve protectable interests. (a) Every contract by which anyone is restrained from exercising a lawful profession, trade, or business of any kind otherwise than is provided by this section is to that extent void.
