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Business Disputes

Facing a Business Dispute? Three Potential Remedies You May Know Not You Had

February 14, 2022

When it comes to disputes, most businesses are focused on the money. Unfortunately, monetary damages don’t always solve the problem. The good news is that there are often remedies available beyond or in addition to whatever monetary damages you may be entitled to. Knowing what remedies are available in the event that you prevail can help shape not only your legal strategy but also your business efforts. That said, not all remedies are available or advisable in every situation. If you are embroiled in a business dispute but are not sure what your options are, a business dispute attorney can provide you with the guidance you need. 

1. Specific Performance

Specific performance is a remedy where a court orders a breaching party to perform their obligations under a contract. For example, let’s say you entered into a contract to purchase a property that would be perfect for your retail business. The location would give you an advantage over your competitors and you anticipate significant growth due to the increased traffic at this location. Unfortunately, the seller breaches your contract and refuses to sell the property. You could file a lawsuit seeking the court to order specific performance – an order requiring the seller to sell the property to you. 

While this may seem attractive, you will be forced to continue to do business with someone with whom your relationship has soured. Specific performance is recommended only sparingly in situations where the product or service is truly unique and cannot be gotten from some other source without great difficulty. In most cases, seeking monetary damages is the better remedy. A business dispute attorney can help you decide whether specific performance is a viable option in your case.  

2. Injunctions

An injunction is a legal order from a court ordering someone to do or not do something. They can be temporary or permanent. Once entered and signed by the judge, failure to abide by the injunction can result in additional legal action as well as being found in contempt of court. 

An example of an injunction would be when a court finds that one of your former employees violated their non-compete agreement. As part of its ruling, the court might order them to cease doing business as outlined in the non-compete agreement. If they continue to do business and you have to go back to court, they could be found to be in contempt and face sanctions as well as other penalties. 

3. Rescission

Rescission is a remedy whereby one or both parties seek to set aside a contract. In order to seek rescission, however, there must first be a material breach. Once the contract is rescinded, the parties can go their separate ways as if they had never entered the contract. 

Rescission can be an attractive remedy because it cuts off potential future liability and can more or less be agreed upon by the parties without the intervention of a court. A business dispute attorney can help you negotiate a rescission agreement with the other party if this appears to be your best option. 

Contact a Business Dispute Attorney for Help with Your Conflict

Business disputes can be incredibly complex and it can be difficult to determine the best resolution. With over 30 years of experience in business litigation, business dispute attorney Jim Ragain can help. To discuss your dispute and the potential remedies that are available, contact us today at 406-651-8888.


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