According to a report from the Los Angeles Times, Southern California Edison, the single largest subsidiary company of the Edison Corporation, has been awarded $125 million by a three-person arbitration panel. Originally, the company and its business partners were seeking more than $7 billion in damages from Mitsubishi Heavy Industries. While the arbitration panel agreed that additional financial damage occurred, a liability cap in the underlying contract limited the recovery.
In many debt collection cases, the outstanding debt is settled before any court judgment is actually entered against the debtor. In an ideal world, this would be an unquestionably positive outcome for creditors. After all, debt collectors are simply looking to recoup the money to which they have a legal claim. Unfortunately, in reality, sometimes debtor parties do not follow through with the terms of debt settlement agreements. Further, if the settlement process is not handled properly, creditors could find themselves in an undesirable situation. Indeed, creditors could even lose important legal rights. Before settling a major outstanding debt, you should first consult with an experienced San Jose commercial debt collection lawyer.
Whether your California business is looking to terminate a specific employee, or is conducting a larger reduction in your workforce, your company needs to understand how to effectively use severance and separation agreements. Relatively minor mistakes can come back to cause you major headaches. If you have any questions about severance agreements, please contact an experienced Northern California employer attorney for immediate legal assistance.
Businesses rely on other parties living up to their contract obligations. Unfortunately, sometimes the other party will fail to uphold their end of the bargain. Your business needs to be prepared to respond in this situation. California uses a complex combination of state statutes and common law to determine your possible remedies. If you have any questions about breach of contract remedies in California, please contact an experienced San Jose contract litigation attorney for immediate legal assistance.
When two or more parties enter into a legally binding contract, they are stating that they will agree to the terms listed therein. What happens when one party does not abide by the terms of the agreement? The ramifications of a breach of contract suit in California can be costly for both parties.