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Preview Page from Chapter 23

§23.1 General
The term “hardship” is widely known in international trade practice as confirmed by the inclusion in many international contracts of so-called “hardship clauses,” which are designed mainly to adapt contractual obligations to “an event that changes the contractual equilibrium between the rights and obligations of the parties in such a dramatic way that performance can become ruinous for one of them or cannot reasonably be expected.”
Generally, force majeure (see Chapter 22) may find its expression where the performance of the party concerned has, at least temporarily, become impossible. The classical concept of force majeure is directed primarily at settling the problems resulting from non-performance, apart from exempting the liability for damages, either by suspension or by termination. In cases where performance ...