The latest from OFP attorneys regarding the impact of COVID-19 on commercial lease agreements.
Commercial Leases and COVID-19:
Force Majeure, Frustration of Purpose, and Impossibility under the Laws of Virginia, Maryland, and the District of Columbia
As landlords and tenants in the DC Metro region navigate the COVID-19 climate and an unprecedented dip in the economy, provisions within commercial leases related to excusing nonperformance are being tested, and in some cases, for the first time. Force majeure clauses are front and center in the debate over excuses for nonperformance, opportunities for termination, and the allocation of liability. However, the common law doctrines of frustration of purpose and impossibility may also be applicable. This set of articles explores the defenses that may be available to commercial tenants in Virginia, Maryland, and the District of Columbia during the coronavirus pandemic, keeping in mind that in these unprecedented times, case law on the impact of the crisis is developing.
To learn more about Virginia, CLICK HERE.
To learn more about Maryland, CLICK HERE.
To learn more about the District of Columbia, CLICK HERE.