Methods of Resolving Breach of Contract
How to Settle a Contract Dispute
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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.
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Discussion: What are the benefits of pursuing each of the available methods of resolving a breach of contract?