Tariffs and Legal Remedies: Excusing Contractual Performance in Virginia
Contracts are critical to commercial relationships, but unforeseen events, such as high tariffs, can disrupt performance. This article discusses how Virginia courts may handle doctrines like force majeure, commercial impracticability, and frustration of purpose, and explores related issues such as price adjustments, tariffs as taxes, and cost allocation. It includes considerations that apply to contract drafting, contract interpretation and contract litigation. Doctrines to Excuse Performance Under a Contract in Virginia Excuse of performance obligations evidenced by a written contract is an option in light of extraordinary circumstances when renegotiation may not be an option. Courts often strictly interpret force majeure […]