"Pacta sunt servanda" - the principle of contractual fidelity on which contracting parties can fully rely. However, is this principle truly sacrosanct? Felix Felleisen and Pedro Vera Martinez elaborate exemptions at the example of the COVID-19 pandemic and the war in Ukraine. Hereby, the discussion focuses on the principle "rebus sic stantibus" and its implications for affected contracting parties in Germany, Spain and Latin America. Feedback: [email protected]