force majeure

force majeure definition - business

force majeure

A clause in a contract that exempts one or both parties from liability in the event the terms of the contract cannot be satisfied because of unforeseen events. For example, a supplier may be unable to deliver promised goods because of a natural disaster.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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