Force Majeure Definition
fôrs mä-zhûr
noun
Superior or overwhelming power.
Webster's New World
An unanticipated or uncontrollable event or effect which releases one from fulfillment of a contractual obligation.
Webster's New World
Greater force; a natural or human-induced disaster that causes a contract to fail of performance.
Webster's New World Law
(law) An unavoidable catastrophe, especially one that prevents someone from fulfilling a legal obligation.
Wiktionary
Synonyms:
- unavoidable casualty
- inevitable accident
- vis major
- act of god
other
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.
Webster's New World Finance
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Other Word Forms of Force Majeure
Noun
Singular:
force majeure
Plural:
forces majeuresRelated Articles
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