In our previous article, we discussed the concept of force majeure, which can excuse parties from performing their contractual obligations in certain circumstances. As explained in that article, force majeure is a contractual...more
In our previous article, we discussed anticipatory repudiation and demands for adequate assurances—legal concepts that may arise when a party to a contract expects that its counterparty may not perform its end of the bargain....more
It’s Friday at 3:00 p.m. at ABC Corp., and Mike from purchasing enters your office, slumping into his chair with a heavy sigh. Prime resin is in short supply. The next delivery will be weeks late, only half your order can be...more
5/20/2022
/ Business Interruption ,
Contract Drafting ,
Contract Terms ,
Merchants ,
Performance Standards ,
Suppliers ,
Supply Chain ,
Supply Contracts ,
Terms and Conditions ,
Uniform Commercial Code (UCC) ,
Vendors
After working through the weekend, you and your attorney are able to work out a plan for how to respond to your angry customer and your resin supplier. As you’re settling in at your desk at ABC Corp. feeling glad to have that...more