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Commercial Disputes Archives

What happens when a contract is breached?

To understand the course of events that may unfold when a contract or agreement is breached, readers of this blog should have a solid understanding of how a contract is formed. For a contract to be created, at least two parties must agree to the contract's terms. One of the parties must offer to perform a service or provide a good and, in exchange, the other party must accept the offer and provide consideration for the offeror's goods or services.

Unfair competition covers a multitude of bad business conduct

Like individuals, businesses can suffer harm and losses when they are victimized by other corporate entities. In New York, a business may claim that it has suffered from unfair competition practices if the actions of another organization resulted in the victim business losing money or commercial opportunities. This post will discuss several of the legal actions that may be considered unfair competition in the business setting but readers are cautioned that its content is not comprehensive. A deeper investigation of unfair competition should be taken up with business attorneys familiar with readers' legal problems.

What is a fiduciary duty and how may it be breached?

Individuals may form partnerships and alliances as they see fit to serve their interests and advance their causes. Businesses may do the same thing, and, in New York, when a corporation places trust in a person or other business and that other party is aware of that trust, then it may be said that a fiduciary relationship exists between them. The fiduciary is the party upon which the trust is place for the benefit of the other.

New rule to prohibit mandatory arbitration in consumer banking

The Consumer Financial Protection Bureau has just made a new rule official that would prohibit mandatory arbitration clauses in consumer banking and financial services contracts. However, the official publication of the rule may merely serve to expose it to attack from those who prefer arbitration or who believe the rule will be disruptive.

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