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.
Georgia Standard Force Majeure Clause
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Multi-State
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US-OL1102A2A
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How to fill out Standard Force Majeure Clause?
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FAQ
Code section 13-4-21 specifically provides: ?If performance of the terms of a contract becomes impossible as a result of an act of God, such impossibility shall excuse nonperformance, except where, by proper prudence, such impossibility might have been avoided by the promisor.?
Force Majeure provisions also typically list events or circumstances in which the provision shall apply which can be either general or specific. For instance, FIDIC contracts list war, terrorism, rebellion, riots, strikes and natural catastrophes as Force Majeure events.
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.
Force Majeure Clause A party is not liable for a failure to perform if he can prove that: (1) the failure was due to an impedement beyond his control; (2) he could not have reasonably foreseen the impediment at the time of contract formation; and (3) he could not have reasonably avoided or overcome its effects.
Typical force majeure events include natural disasters (fire, storms, floods), governmental or societal actions (war, invasion, civil unrest, labor strikes), and infrastructure failures (transportation, energy).
Georgia statutory law permits liquidated damages provisions in contracts. "If the parties agree in their contract what the damages for a breach shall be, they are said to be liquidated and, unless the agreement violates some principle of law, the parties are bound thereby." Ga. Code § 13-6-7 (2000).
A force majeure clause is a contractual provision that relieves one or both of the parties of their performance obligations if circumstances beyond their control arise. Most often in residential real estate transactions, this clause is invoked to delay ? not cancel ? the closing process.
