The remedies available for a breach of contract can sometimes be unclear. In some cases, they are fully stated in the contract and easy to understand. More likely, however, statutes unmentioned in the terms of the contract will provide a number of remedies. When you believe someone is attempting to prematurely cancel a contract, you should contact a local business law attorney to clarify which of these remedies may be available to you.
Previously, we've written about some of the remedies available to shareholder oppression claimants. Among those we mentioned is the judge's ability to dissolve the company, or at least the minority's interest in the company. While these actions can effectively end the oppressive conduct, the question then becomes how will each party's shares be valued? When shareholder oppression is involved, these valuations can become extremely tricky.
In business, everyday issues give rise to a countless variety of claims. Depending on the character of the issue, it may give rise to a claim that you must bring in federal court in order to protect your business. This can be a scary proposition if you aren't familiar with the process, and in certain circumstances should be avoided.