Article 94 see also Validity
The parties may dissolve the contract under any of the following circumstances:
- the aim of the contract cannot be attained because of force majeure;
- before the period of performance expires, either party clearly indicates by word or by act that it will not discharge the principal debts;
- either party delays the discharge of the principal debts and still fails to discharge them within a reasonable period of time after being urged;
either party delays the discharge of debts or is engaged in other illegal activities and thus makes realization of the aim of the contract impossible; or
- any other circumstances as provided for by law.
If a contract cannot be fulfilled due to force majeure, the obligations may be exempted in whole or in part depending on the impact of the force majeure, unless laws provide otherwise. If the force majeure occurs after a delayed fulfillment, the obligations of the party concerned may not be exempted.
Force majeure as used herein means objective situations which cannot be foreseen, avoided or overcome.
Either party that is unable to fulfill the contract due to force majeure shall notify the other party in time in order to reduce losses possibly inflicted to the other party, and shall provide evidence thereof within a reasonable period of time.