On 11th March 2020, the World Health Organization (WHO) has declared COVID-19 as a Global pandemic. The government announced a lockdown which would essentially result in a standstill for many people including businesses, using the ‘Work from Home’ option if available or temporarily stopping work.
This initiative by the Government poses the following questions-
- How would contracts be treated due to the stoppage of work?
- What would be the implications if the Contract contains the Force Majeure Clause?
- What would be the implications if the Commercial Contract does not contain the Force Majeure clause?
- What is the effect of COVID-19 on Negotiable Instruments?
We at Incorp have answered the above issues in detail.
As a committed advisor to our clients, we welcome any opportunity to discuss how the lockdown will impact your business. Contact us.
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