New York Risk of Loss Doctrine After the Coronavirus
The risk of loss doctrine has evolved over the centuries, reflecting changes in corresponding legal theories. The doctrine needs to continue its evolution, this time to reflect the "new" risks of our post-coronavirus world.
April 09, 2020 at 11:00 AM
10 minute read
The unimaginable has happened: the "coronavirus," a worldwide pandemic.
Transactional lawyers try to anticipate all likely scenarios that might impact a particular transaction. Yet no one could have anticipated that this contagion would cause such a cataclysmic disruption to our lives, businesses, institutions and public transportation, partly due to governmental measures implemented in order to stem the spread of the virus.
However, now that the coronavirus contagion has occurred, and there is an increased likelihood of more pandemics, it is incumbent upon lawyers to analyze the legal ramifications and safeguard their clients appropriately.
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