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Template:M summ 2002 ISDA 5(b)(ii): Difference between revisions
→“act of state”
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Excellent idea! Let’s stop faffing around with this [[force majeure]] nonsense and do that then! | Excellent idea! Let’s stop faffing around with this [[force majeure]] nonsense and do that then! | ||
'''Act of state''': Note reference to “act of state”. {{act of state capsule}} | |||
Note reference to | |||
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}}. | 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}}. | ||