Force Majeure Clause In Leave And License Agreement
The use of the concept of force majeure depends entirely on how the parties elect it or agree to define it in their contract. If the event occurred and the parties dispute the interpretation of the force majeure clause, the court would weigh and focus on what was agreed exclusively by the parties in the contract and would not allow a party to protect itself from liability resulting from an event that was not provided for in the contract. One of the most affected sectors is real estate, particularly under the leave and licenses agreement (LLA) for residential and commercial real estate. A lease is only an enforceable contract and there is no right to immovable property. The legislation in this area will therefore be the Law on Contracts and not the TOP Law.