International Journal of Law


ISSN: 2455-2194

Vol. 6, Issue 3 (2020)

The legal implications of the Covid-19 pandemic on commercial, employment and insurance contracts

Author(s): Ankit Sharma
Abstract:
Coronaviruses are a large family of viruses which may cause illness in animals or humans. The most recently discovered coronavirus causes coronavirus disease COVID-19. COVID-19 is the infectious disease caused by the most recently discovered coronavirus. This new virus and disease were unknown before the outbreak began in Wuhan, China, in December 2019.
The Coronavirus Pandemic is an unprecedented human tragedy affecting millions of humans around the globe. The pandemic has adversely affected more than 212 countries with 13,17,130 confirmed cases and 74,304 confirmed deaths. Due to the unprecedent ghastly effect of the disease and without any cure in sight, many countries had no choice but to put the nation under lockdown. Even though the world has witnessed Pandemics in the past, But none of those pandemics and perhaps none of the events of any kind—in modern history have impacted daily life to the extent that the COVID-19 has, with almost more than half of the population of the world currently living under some form of stay-at-home order.
Hence, due to the disruption in the demand and supply chain, lockdowns and economic slowdowns, it is likely that the that performances under many contracts will be delayed, interrupted, or even cancelled. Furthermore, the world is heading towards an economic recession that may lead to major cost cutting by the companies, corporations and businesses around the world thereby, leading to major employment layoffs and termination. This paper examines the legal implications of the disruptions caused by the Pandemic on Contracts vis-à-vis the Force Majeure Clause, Employment layoffs and insurance claims.
Pages: 162-167  |  57 Views  31 Downloads
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