Lawyers are going to have a great time arguing what the word suspended means. The CFL's lawyers that the league wasn't and isn't suspended. Managment is still in place and the league is still moving forward for a 2021 season. The CFLPA lawyers will argue that the 2020 season was suspended, so the contracts are over.
IIRC the league said they were cancelling the 2020 season, not suspending it, so my guess is they will win the argument, but I'm no lawyer, nor do I play one on TV.
I cant point to concrete evidence, but I believe that when the CFLPA and the league agreed to collaborate on making sure players were mostly eligible for the COVID benefit payments, that was the carrot for the CFLPA to agree that the clause cancelling all contracts would not be in force. But, if I am not mistaken, all current contracts still have a year tick off the clock.
That means all the free agents from the end of 2019 who were not re-signed, plus anyone whose contract was set to expire after 2020, plus all the guys who elected to opt out of their contract to try the NFL, will all be hitting the free agent market going into 2021.
I expect massive player movement, plus there is a strong likelihood that they "modify" the salary cap for 2021 to accommodate pandemic impacts. This will allow teams to sign players to somewhat less generous one year deals. That will act as a bridge to whatever the new business model and CBA is going to be post 2022.
That's my theory and I'm sticking to it....