Covid-19 likely to cause many force majeure terminations of contract
This may seem reasonable from the viewpoint of the affected party, but it may leave others in an untenable position
Covid-19 is spreading, and mass hysteria and panic buying are causing irreparable damage to the global economy. Companies worldwide are distributing notices to staff cancelling international travel, conferences and in-person meetings, implementing business continuity plans and giving detailed instructions on how to limit their employees’ chances of catching the virus.
President Cyril Ramaphosa has announced a state of disaster and instituted a rapid effective response system, including closing schools, prohibiting gatherings of more than 100 people and instituting a travel ban on foreigners from high-risk areas. ..