[The following is a guest post from Molly Madonia, Law ’16, a prior guest alumni contributor to the Blog.]
What do the great Beyoncé Knowles and force majeure clauses have in common? They both demand that we put some respect on their check.
Force majeure clauses in transactional agreements have often been used arbitrarily, perhaps as a legalese-y afterthought, as an easy exit from the contract, or even added merely to shift the signature blocks onto the proceeding page. However, in the time of an international pandemic, unpredictable supply chain, and abundant contractual frustration of purpose, force majeure clauses are finally getting their time to shine. Now, these often-tertiary little provisions are single-handedly keeping businesses afloat, keeping creditors at bay, and punching well-above their weight class across all types of contracts.