Act of God (caso fortuito, fuerza mayor) – Word of the Day – Learning Real Estate One Word or Phrase at a Time…

The term “act of God” is a legal and insurance-related term used to describe events that are beyond human control and unforeseeable.
These events are typically considered to be beyond the responsibility or liability of individuals or organizations.
In legal contexts, the term “act of God” may be invoked in contracts or liability cases to absolve parties from responsibility for damages or non-performance due to events that are beyond human control. Examples of events that might be considered acts of God include earthquakes, tidal waves, floods, hurricanes, tornadoes, and other natural disasters.
In insurance, policies often include clauses referring to acts of God, and coverage may vary depending on the specific terms and conditions outlined in the policy. Insurance companies may not be liable for damages caused by events classified as acts of God.
Many contracts include a force majeure clause, which temporarily or permanently relieves the parties of performance of a contract where an act of God has destroyed or damaged the subject matter or prevented performance. Under the name destroyed or materially damaged clause, this provision relieves the parties to a real estate sales contract from performance when an act of God has damaged the property’s improvements before the transfer of title.
It’s important to note that the use and interpretation of the term “act of God” can vary depending on jurisdiction and the specific wording of legal contracts or insurance policies.

Share This Post

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay connected.

Get up to the minute updates and resources.

Search
Other Articles

Agency by Ratification

Real Estate Word of the Day – Learning real estate one word or phrase at a time… Agency by Ratification Agency by ratification refers to

Read More »

Stay Connected.

Get up to the minute updates and resources.