In January of 2020 U.S. authorities declared the Covid-19 viral outbreak a public health emergency. On March 11, 2020, the World Health Organization declared the Covid-19 viral outbreak a pandemic. The declaration of a Covid19 pandemic and the state, local and federal efforts to contain it have wreaked havoc on the economy. Closures of non-essential business have caused businesses to close overnight abruptly terminating cash flow endangering the very survival of many businesses. As a business owner, your contractual obligations to vendors, landlords, and other business partners continue, or do they?
This article will address some of the issues that can affect your ability to amend or break your contract due to conditions created by the Coronavirus epidemic.
