COVID-19 Update: Effect on Real Estate March 23, 2020 COVID-19 presents a constantly evolving situation with many factors at play, this article provides a general guide to its impact, while not addressing specific situations. SHUT DOWN ORDER On Thursday, March 19, 2020, Governor Wolf announced that all non-life sustaining businesses would be required to close their physical locations. The physical offices of real estate agents and brokers were not deemed life-sustaining and, therefore, close their physical offices; although work being completed via telecommuting may continue. Failure to comply with the Governor’s order will come at a steep cost, including the potential forfeiture… read more »
COVID-19 Update: Commercial Contracts
COVID-19 has created many urgent questions for business clients, including how to handle commercial contracts. This article outlines the issues involved and provides general information to aid in certain decisions. Under the laws, there are multiple frameworks that might apply to your situation – explicit contract language, the UCC and the common law of contracts. An attorney can help you determine which of those frameworks applies to your circumstance. Each situation is unique and this article does not provide any specific advice. Force Majeure Your commercial contract may contain a force majeure provision. A force majeure provision may excuse or delay certain contractual obligations during… read more »
