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?