Force Majeure is a very common word in Business Law.
Having spent 5 years studying Business Law (BBM +MBA) , along with 2 additional years in MA-Economics, I’ve always found myself questioning the concept of Force Majeur ?
When you pursue your MBA you expect the usual suspects—finance, sales, marketing, strategy, maybe with a touch of Business Law, crashing the party like that one friend who insists on reading the terms and conditions of everything.
You thought it was about handshakes and good vibes? Think again. Suddenly, you're dissecting force majeure clauses like a detective in a legal thriller.
MBA business law doesn’t make you a lawyer. But it does make you the annoying team member who says, “Uh, guys, have we checked if this is legal?” at every brainstorming session be it finance sales marketing or HR.
For those of you who do not understand Force Majeure ; let me explain !
In legal terms, force majeure can be used to excuse performance of a contract when extraordinary events occur.
Force Majeure is a legal term referring to unforeseeable circumstances or events beyond a party's control that prevent or delay the performance of a contract. These events are typically considered "Acts of God" or other extraordinary occurrences, such as natural disasters (earthquakes, floods, hurricanes), war, strikes, pandemics, or government actions, that cannot be predicted or avoided.
In contracts, a force majeure clause allows the affected party to be excused from fulfilling their obligations without penalty due to these exceptional situations.
The movie questions the Force Majeure of Business Law !
The movie raises the question of whether it’s fair for businesses to invoke force majeure to escape responsibility when disasters strike, while everyday people have to face the consequences without compensation.
While force majeure protects businesses from unforeseeable events, the film suggests that perhaps those same businesses should still be held accountable for their societal or moral responsibilities, especially when the impact of such events is disproportionately felt by the vulnerable.
In essence, Oh My God uses the concept of force majeure to explore the balance between legal protection and ethical accountability in the face of unforeseen events. The film pushes the audience to question whether laws meant to protect against Acts of God are sometimes used more as a loophole than as a genuine safeguard.
The 1992 stock market crash, which plays a crucial role in the movie Scam 1992 https://en.wikipedia.org/wiki/Scam_1992, can be viewed as a type of force majeure event. Although Mehta’s actions were largely responsible for his financial crimes, the sudden collapse of the stock market could be seen as an unforeseen external event that impacted his ability to maintain control, and avoid Liability!
Inspired by the movies, I’ve decided to postpone my ACC, PCC, and MCC certifications to become a Professional Coach by one more year. Instead, I plan to pursue higher studies in Business Law in the year 2025.
Whatever I give up, I will never give up on myself. Looking forward to engaging in meaningful discussions ahead!
Harshad Mehta is a prime example of how the value and impact one brings to business are driven by passion. While his methods were controversial, his relentless drive and passion for the stock market created a lasting impact on the industry. His story teaches us that passion can be a powerful force in business—though it’s important to channel it ethically and responsibly.
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