This form provides a model boilerplate Force Majeure clause for contracts based on the Uniform Commercial Code (UCC).
Indiana Force Mature Provisions — The UCC Model is a set of legal rules and provisions that govern the impact of unforeseen events and circumstances on contractual obligations in Indiana. Force Mature clauses are contractual provisions that aim to absolve parties from their duties or liabilities when events beyond their control occur, making performance impossible or impracticable. These provisions are based on the Uniform Commercial Code (UCC) Model, which provides a standardized framework for commercial transactions in the United States. Indiana recognizes and incorporates the UCC Model's Force Mature Provisions to facilitate fair and efficient handling of contractual disputes arising from unexpected events. The UCC Model provides a comprehensive approach to force majeure situations by specifying the conditions that must be met for the provision to be invoked, the effect on affected parties, and the actions required in such circumstances. One of the types of Indiana Force Mature Provisions based on the UCC Model is the "Impossibility of Performance" clause. This clause applies when an uncontrollable event makes the performance of a contractual obligation utterly impossible. It absolves the party from liability and may result in the termination of the contract without any penalties or damages. Another type is the "Frustration of Purpose" clause, which applies when an unforeseen event occurs that fundamentally alters the purpose for which the contract was made. This provision allows the affected party to be excused from performing obligations if the value or efficacy of their performance has been destroyed by the event. Indiana also incorporates the UCC Model's provision for "Delay in or Failure of Performance" due to force majeure events. This provision covers situations where performance becomes unreasonably difficult or expensive, but not completely impossible, due to an unsurmountable event. It provides guidance on the obligations of both parties during the delay or failure, such as mitigating damages and notifying the other party promptly. It is important to note that invocation and interpretation of Indiana Force Mature Provisions — The UCC Model require careful consideration of the specific contractual language and circumstances involved. Parties should consult legal experts to understand the applicability and potential consequences of invoking such provisions.
Indiana Force Mature Provisions — The UCC Model is a set of legal rules and provisions that govern the impact of unforeseen events and circumstances on contractual obligations in Indiana. Force Mature clauses are contractual provisions that aim to absolve parties from their duties or liabilities when events beyond their control occur, making performance impossible or impracticable. These provisions are based on the Uniform Commercial Code (UCC) Model, which provides a standardized framework for commercial transactions in the United States. Indiana recognizes and incorporates the UCC Model's Force Mature Provisions to facilitate fair and efficient handling of contractual disputes arising from unexpected events. The UCC Model provides a comprehensive approach to force majeure situations by specifying the conditions that must be met for the provision to be invoked, the effect on affected parties, and the actions required in such circumstances. One of the types of Indiana Force Mature Provisions based on the UCC Model is the "Impossibility of Performance" clause. This clause applies when an uncontrollable event makes the performance of a contractual obligation utterly impossible. It absolves the party from liability and may result in the termination of the contract without any penalties or damages. Another type is the "Frustration of Purpose" clause, which applies when an unforeseen event occurs that fundamentally alters the purpose for which the contract was made. This provision allows the affected party to be excused from performing obligations if the value or efficacy of their performance has been destroyed by the event. Indiana also incorporates the UCC Model's provision for "Delay in or Failure of Performance" due to force majeure events. This provision covers situations where performance becomes unreasonably difficult or expensive, but not completely impossible, due to an unsurmountable event. It provides guidance on the obligations of both parties during the delay or failure, such as mitigating damages and notifying the other party promptly. It is important to note that invocation and interpretation of Indiana Force Mature Provisions — The UCC Model require careful consideration of the specific contractual language and circumstances involved. Parties should consult legal experts to understand the applicability and potential consequences of invoking such provisions.
