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Matthew Shelley
4th February 2011, 09:28
How in the he** can you have a force majeure on a financial instrument?

I think that's a pretty big stretch on the definition.

http://www.cmegroup.com/tools-information/lookups/advisories/clearing/Chadv11-46.html

silverheartbone
4th February 2011, 11:12
How in the he** can you have a force majeure on a financial instrument?

I think that's a pretty big stretch on the definition.

http://www.cmegroup.com/tools-information/lookups/advisories/clearing/Chadv11-46.html

Thanks for the heads up.

mark2112gum
4th February 2011, 11:57
(Latin),[1] is a common clause in contracts that essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties, such as a war, strike, riot, crime, or an event described by the legal term "act of God" (such as flooding, earthquake, or volcanic eruption), prevents one or both parties from fulfilling their obligations under the contract.[2] However, force majeure is not intended to excuse negligence or other malfeasance of a party, as where non-performance is caused by the usual and natural consequences of external forces (for example, predicted rain stops an outdoor event), or where the intervening circumstances are specifically contemplated.

silverheartbone
4th February 2011, 12:15
(Latin),[1] is a common clause in contracts that essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties, such as a war, strike, riot, crime, or an event described by the legal term "act of God" (such as flooding, earthquake, or volcanic eruption), prevents one or both parties from fulfilling their obligations under the contract.[2] However, force majeure is not intended to excuse negligence or other malfeasance of a party, as where non-performance is caused by the usual and natural consequences of external forces (for example, predicted rain stops an outdoor event), or where the intervening circumstances are specifically contemplated.
However if you've bought the government, then there are exceptions.