force majeure[fō̂rs mȧ z̸hër′]
- The definition of a force majeure is an overpowering force, or an unexpected or uncontrollable event.
An example of a force majeure is an earthquake.
- superior or overwhelming power
- an unanticipated or uncontrollable event or effect which releases one from fulfillment of a contractual obligation
Origin of force majeureFrench
- Superior or overpowering force.
- See vis major.
Origin of force majeureFrench : force, force + majeure, greater.
(plural forces majeures)
force majeure - Investment & Finance Definition
A standard clause in a contract that indemnifies, or protects from loss, either or both parties to a transaction if events that prevent the realization of the contract are judged to be unanticipated or uncontrollable and reasonably beyond the terms of the contract or agreement. For example, when workers at the state-owned Venezuelan oil company went on strike in late 2002, a force majeure on oil exports was declared that suspended contractual obligations due to circumstances beyond the company’s control.
force majeure - Legal Definition