This form provides a model boilerplate Force Majeure clause for contracts based on the Uniform Commercial Code (UCC).
Virginia Force Mature Provisions — The UCC Model is a legal concept that deals with unforeseen events or circumstances that prevent parties from fulfilling their contractual obligations. This provision is derived from the Uniform Commercial Code (UCC), which is a state law that governs commercial transactions in the United States. It provides a mechanism for parties to suspend or excuse performance under certain conditions. In Virginia, there are two types of Force Mature Provisions based on the UCC Model: 1. Express Virginia Force Mature Provision — The UCC Model: This type of provision is explicitly included in the contract and specifies the events or circumstances that would trigger the provision. It may list specific force majeure events such as natural disasters, acts of terrorism, war, government actions, or labor strikes. When such events occur, the provision allows parties to suspend or delay performance without penalty or liability. 2. Implied Virginia Force Mature Provision — The UCC Model: Unlike the express provision, an implied force majeure provision is not explicitly stated in the contract but is implied by law. It relies on the UCC's doctrine of commercial impracticability or impossibility. Under this doctrine, if an unforeseen event occurs that makes performance of a contract commercially impracticable or impossible, the parties may be excused from fulfilling their obligations. It is important to note that the exact language and scope of Force Mature Provisions may vary in different contracts, and it is crucial for parties to carefully review and negotiate these provisions to ensure they adequately protect their interests. These provisions are crucial in times of uncertainty or instability when parties may be unable to fulfill their contractual obligations due to uncontrollable events. Keywords: Virginia Force Mature Provisions, UCC Model, legal concept, unforeseen events, circumstances, contractual obligations, Uniform Commercial Code, state law, commercial transactions, suspend performance, excuse performance, express provision, implied provision, natural disasters, acts of terrorism, war, government actions, labor strikes, doctrine of commercial impracticability, doctrine of impossibility, contractual protection.Virginia Force Mature Provisions — The UCC Model is a legal concept that deals with unforeseen events or circumstances that prevent parties from fulfilling their contractual obligations. This provision is derived from the Uniform Commercial Code (UCC), which is a state law that governs commercial transactions in the United States. It provides a mechanism for parties to suspend or excuse performance under certain conditions. In Virginia, there are two types of Force Mature Provisions based on the UCC Model: 1. Express Virginia Force Mature Provision — The UCC Model: This type of provision is explicitly included in the contract and specifies the events or circumstances that would trigger the provision. It may list specific force majeure events such as natural disasters, acts of terrorism, war, government actions, or labor strikes. When such events occur, the provision allows parties to suspend or delay performance without penalty or liability. 2. Implied Virginia Force Mature Provision — The UCC Model: Unlike the express provision, an implied force majeure provision is not explicitly stated in the contract but is implied by law. It relies on the UCC's doctrine of commercial impracticability or impossibility. Under this doctrine, if an unforeseen event occurs that makes performance of a contract commercially impracticable or impossible, the parties may be excused from fulfilling their obligations. It is important to note that the exact language and scope of Force Mature Provisions may vary in different contracts, and it is crucial for parties to carefully review and negotiate these provisions to ensure they adequately protect their interests. These provisions are crucial in times of uncertainty or instability when parties may be unable to fulfill their contractual obligations due to uncontrollable events. Keywords: Virginia Force Mature Provisions, UCC Model, legal concept, unforeseen events, circumstances, contractual obligations, Uniform Commercial Code, state law, commercial transactions, suspend performance, excuse performance, express provision, implied provision, natural disasters, acts of terrorism, war, government actions, labor strikes, doctrine of commercial impracticability, doctrine of impossibility, contractual protection.
