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.
North Carolina Standard Force Majeure Clause
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Multi-State
Control #:
US-OL1102A2A
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How to fill out Standard Force Majeure Clause?
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FAQ
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.
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.
There are generally three essential elements to force majeure: ? tt can occur with or without human intervention ? it cannot have reasonably been foreseen by the parties ? It was completely beyond the parties' control and they could not have prevented its consequences.
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.
If no force majeure clause exists, then the doctrine of frustration may apply where unforeseen events happen and it is important for all businesses to understand how the concept works and when it is appropriate to use it.
A liquidated damages provision is enforceable under North Carolina law when: 1. damages are speculative or difficult to ascertain, and 2. the amount stipulated is a reasonable estimate of probable damages, OR the amount stipulated is reasonably proportionate to the damages actually caused by the breach.
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 is used to describe any event that is unexpected by parties to a contract, not caused by any party, and affects the relationship between them. Its use can limit the ability of either party's duty to perform or require a party to intrude on a privilege of the other.
