View source for Template:Isda Force Majeure summ

For the last word on [[force majeure]], the [[JC]]’s [[ultimate force majeure clause]] is where it’s at. Breaking what must be a habit of a lifetime, somehow {{icds}} managed to refrain from going [[crazy-ape bonkers]] with a definition of [[force majeure]] and instead, ''didn’t define it at all''. In the {{1992ma}} they didn’t even include the ''concept''. 

''Interlude: if you are in a hurry you can avoid this next bit.''
{{quote|
I don’t ''know'' this, but I am going to hazard the confident hypothesis that what happened here was this:

{{icds}}, having convened its full counsel of war, fought so bloodily over the issue, over so long a period, that the great marble concourse on [[Olympus|Mount Olympus]] was awash with the blood of slain [[legal eagle]]s, littered with severed limbs, wings, discarded weapons, arcane references to regional variations of tidal waves, horse droppings from Valkyries etc., that there was barely a soul standing, and the only thing that prevented total final wipe-out was someone going, “ALL RIGHT, GOD DAMN IT. WE WON’T DEFINE WHAT WE MEAN BY FORCE MAJEURE ''AT ALL''.”

There was then this quiet, eerie calm, when remaining combatants suddenly stopped; even those mortally wounded on the floor looked up, beatifically; a golden light bathed the whole atrium, choirs of angels sang and the chairperson said, “right, well that seems like a sensible, practical solution. What next then?”

“We thought we should rewrite the {{Eqdefs}} in [[2011 ISDA Equity Derivatives Definitions|machine code]], your worship.”

“Excellent idea! Let’s stop faffing around with this [[force majeure]] nonsense and do that then!”
}}
''Ok back to normal''.
=====Force Majeure in the {{1992ma}}=====
We may have said this before but, just because there isn’t a {{{{{1}}}|Force Majeure}} proper in the preprinted 1992 doesn’t mean people don’t borrow the concept from the 2002 — which has been around for, you know, 21 years now — and put it in anyway. One thing we can’t fathom is what possessed {{icds}} to put it in at Section {{isdaprov|5(b)(ii)}}, rather than Section 5(b)(iv) just before the Additional Termination Event section, because for absolute shizzle anyone familiar with one version of the {{isdama}} is going to get confused as hell if they start misunderstanding clause references in the other.
=====Act of state=====
Note the reference to “act of state”. {{act of state capsule}}

Thus, a [[force majeure]] taking the shape of an [[act of state]] is, we humbly submit, a change in law which makes it impossible for one side or the other to perform its obligations. Compare, therefore, with {{isdaprov|Illegality}}.