Posted in Community :
Business and Law
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Activity:
22 views;
last activity : 07 06 2010 20:18:09 +0000
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Avoiding Contractual Obligations
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Reexamining Equity Investments
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Ideas in:
"Increasing Disputes and Credit Crunch"
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I think parties are examining their contractual terms to find a way to avoid performance of their contractual obligations. For example, we are advising a manufacturer of a particular product in an exclusive supply arrangement with a US buyer in which the US buyer has refused to accept delivery of manufactured goods on the basis of an alleged breach of a term of the contract by the manufacturer.
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by
sonam sharma, Legal Practitioner
| 07 23 2009 17:27:03 +0000
Thats the best way to avoid contractual obligations, but it is alot complicated and costly as it involves looking for the appropriate applicable law to prove a breach and could end up in long and expensive dispute reslotution.
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I could say investments which might appear attractive before the financial crisis are now being re-examined. We have come across venture capitalists failing to honor financial commitment to inject funds into ventures in China notwithstanding express contractual undertaking. We are also advising clients who have made an equity investment in a company but are now seeking to unravel their investment on the basis of breach of the warranty and representation clauses.
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