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Inside Internal Controls

News and discussion on implementing risk management

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frustration of contract

COVID-19 issues: Frustration, subject-to clauses and contracts of purchase and sale

COVID-19 has resulted in a number of issues which put the performance of purchase contracts for real property at risk. Some of the more obvious concerns include reduced cashflows, layoffs, economic slow down, dropping housing prices and general inability to conduct business in ordinary fashion.

 

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