Posts Tagged ‘force majeure’

Leave it to Donald trump to come up with a unique reason why HE does not need to stand behind a $40 million personal guarantee made to Deutsche Bank regarding HIS hotel in Chicago.  He has claimed that the “force majeure” clause has become effective due to the economic chaos and world financial crisis.

Normally force majeure refers to catastrophic events, natural disasters, war and acts of G-d.

Fortunately the courts have rejected his absurd claim.  Unfortunately they did not penalize him for adding to the economic and financia chaos!