An employer may propose revising the terms of an employment contract on account of adverse economic conditions affecting them from the effects of the coronavirus pandemic. In such instances, these are the considerations to be made.
The ongoing pandemic has resulted in instances where companies are struggling to pay creditors even though their businesses remain viable. Here are ways by which such businesses can obtain respite from creditors.
A party to a contract entered into prior to the outbreak of COVID-19 may argue that the contract has been frustrated and that the party is discharged from further performance of obligations under the contract.