Volume 1 Issue 1

Volume 1 Issue 1

Protection of Business from COVID-19 By The Vaccine of MAC and Force Majeure Clause

By Shreya Mehta and Ishika Sharma,
Students , Symbiosis Law School, Pune

Abstract

COVID 19 started as a health crisis, it has also resulted in shattered economies and societal breakdowns. The rapid increase in corona cases and continuous extension in the lockdown period increases demands for justice, from the employment crisis to potential concerns in liquidity to commercial disputes. There are continuous strains in the Indian justice system and access to justice have become a premium. Given COVID 19 induce anxiety among the masses, the legal response to this time must be rapid to avoid medical pandemic from turning into a humanitarian tragedy. In light of the pandemic, commercial organizations in the sector are having difficulty in fulfilling certain of their contractual obligations. In the wake of the pandemic, businesses are considering to invoke the force majeure clause or material adverse change clause as a legal option to mitigate the impact of the crisis on their business. In this paper, authors have focused majorly on the effect of the pandemic on the merger and acquisition contracts and further elaborate upon the viability of invoking force majeure or material adverse change clause under the same contract to secure their interest against the financial crisis in the market.

Recommended Citations :

OSCOLA

Ishika Sharma, Shreya Mehta, ‘ Protection of Business from COVID-19 By the Vaccine of Mac and Force Majeure Clause: Myth or Reality’, [2020] 1 IJBLS
https://intbusinesslaw.com/protection-of-business-from-covid-19-by-the-vaccine-of-mac-and-force-majeure-clause/

Bluebook 19th Ed.

Ishika Sharma & Shreya Mehta, Protection of Business from COVID-19 By the Vaccine of Mac and Force Majeure Clause: Myth or Reality, 1 IJBLS 27, 27 – 38 (2020).