A common clause in contracts that essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties such as war, strike, riot, crime, or an event known as an act of God (such as a hurricane, flooding, earthquake, volcanic eruption etc.), prevents one or both parties from fulfilling their obligations under the contract.
In practice, most force majeure clauses do not exclude a party’s non-performance entirely, but only suspends it for the duration of the force majeure event.
RERA stands for Dubai Real Estate Regulatory Agency, a government agency, the regulatory arm of Dubai Land Department. RERA was founded on July 31, 2007, by virtue of Dubai Law No. (16) of 2007 Establishing the Real Estate Regulatory Agency.
The primary objective of the Agency is to regulate the real estate sector in the Emirate of Dubai by contributing to the preparation of strategies related to the industry and to the development and implementation of the required action plans, including setting legislation regulating the relationship between contracting parties in the real estate market.
RERA involved in planning, organising and evaluating operations related to real estate licenses, organisation and development of real estate activities, monitoring property development projects financially and technically, to protect investors.
The failure to do something which a reasonable person would do in a particular situation, or doing something which a reasonable and prudent person would not do in similar circumstances. If an injured person proves that another person acted negligently and caused their injury, they can recover damages to compensate for their injury.
Feb 20, 2014
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