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Methods of Resolving Breach of Contract

29. What methods exist for resolving a breach of a contract?

There are several remedies or solutions available for a breach of contract:

•    Negotiated Settlement – The parties may work out a satisfactory solution to most breaches of contract is resolved by the parties themselves through voluntary negotiated settlements.

•    Arbitration – The parties may agree to submit their dispute to a neutral third party or parties to resolve the dispute.

•    Litigation – The parties seek to enforce their contract rights in a court of law.

All of these methods are discussed in greater detail in other chapters of this text.

•    Discussion: What are the benefits of pursuing each of the available methods of resolving a breach of contract?

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