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Reach out to the other party right away to discuss the situation. It's always best to communicate openly and work things out.
Generally, no. It's more about physical impossibility or major disruptions, not just running into financial trouble.
You’ll usually need to show that the event was out of your control and directly impacted your performance. Think of it as bringing proof to the table.
Not always. It depends on the severity and whether it directly impacts your ability to meet contract terms.
Absolutely! You can tailor it to fit your needs, listing specific situations like pandemics or strikes.
The UCC, or Uniform Commercial Code, doesn't spell out Force Majeure, but it does cover situations where unforeseen events might excuse a party from performance.
It's a fancy term for certain conditions that prevent you from fulfilling your contractual obligations, like natural disasters or other unexpected events.
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Memphis Tennessee Force Majeure Provisions - The UCC Model