Hot Springs Business Litigation Lawyers Protect Your Company’s Interests
Reputable law firm resolves disputes that threaten your bottom line
Anyone who engages in business eventually has a dispute that requires a legal remedy. Unfortunately, in the course of litigating a dispute, many law firms forget why their clients are in business, which is to make a profit. What good does it do to win the client’s case, but lose the value of the underlying deal? At Schnipper, Britton & Stobaugh, we focus on your bottom line. We search for practical solutions that advance your business goals, protect the value of your contracts, and preserve your business relationships for the future. Since 1875, we have helped Arkansas businesses overcome a wide range of challenges. We have lasted the test of time, because we have delivered positive results on a consistent basis.
Determined business and commercial representation in Hot Springs
Many business and commercial disputes are foreseeable and preventable. Our Hot Springs lawyers pay meticulous attention to business formation and contract matters to anticipate and remove impediments to our clients’ success. When conflicts arise, we are equally vigorous in defending our clients’ rights. Our litigation lawyers represent companies throughout Arkansas in business and commercial cases arising from a variety of issues, such as:
- Antitrust violations
- Breach of contract
- Corporate governance
- Employment disputes
- Franchise litigation
- Insurance coverage disputes
- Intellectual property rights
- Partnership and shareholder disputes
- Real estate disputes
- Regulatory compliance
- Trade secret theft
- Uniform Commercial Code disputes
Not every dispute winds up in state or federal court. Whenever possible, we want to spare our clients the expense of a trial. We engage in negotiations to resolve difficulties, and we frequently employ alternative means of dispute resolution, such as arbitration and mediation.
Common remedies for breach of contract in Arkansas
When one party fails to fulfill the terms of a contract, a breach of the agreement occurs. The breach may have real consequences for the non-breaching party who relied on fulfillment of the contract, and the law may hold the breaching party liable for those damages. A court could order the following remedies at law:
- Compensatory damages — Also called “actual” damages, these are amounts to compensate the non-breaching party for losses due to the breach. These are specific line items, such as rent on a commercial space that the lessee cannot use because of the breach.
- Consequential or incidental damages — These amounts represent compensation for losses that were foreseeable at the time the parties entered the contract. For example, if a commercial tenant cannot open a business on the date in the contract because the commercial landlord has not completed repairs to the space, the tenant can claim lost business profits as consequential damages. The court can order payment if the amounts are based on reasonable business assumptions and are not too speculative.
- Liquidated damages — Parties to a commercial contract often specify the amount to be paid in the case of a breach. So, instead of paying consequential damages, the breaching party would have to pay the amount designated in the contract.
Generally, a plaintiff cannot collect punitive damages for a breach of contract. However, punitive damages are available in other types of business litigation, such as antitrust claims, where the law allows for treble damages, and in cases of trade secret misappropriation “if the trade secret is willfully or maliciously misappropriated.”
In a contract dispute, a court can also order equitable remedies, such as:
- Specific performance — The court can order a breaching party to fulfill obligations under the contract if that would produce a fair result. However, courts generally do not order specific performance in personal service contracts where the parties have become obnoxious to one another.
- Rescission and restitution — If fulfilling the contract would be unduly burdensome on the breaching party, the court can declare the contract null and void. This order is usually accompanied by an order for the breaching party to reimburse the non-breaching party for amounts already expended in reliance on the contract.
- Reformation — If the court determines that the contract does not accurately reflect the parties’ agreement, the court can rewrite the contract with appropriate language.
Our litigation lawyers explore every option to obtain the relief your company needs.
Contact a talented team of seasoned attorneys in Hot Springs, Arkansas
Schnipper, Britton & Stobaugh is one of the most enduring law firms in Arkansas, because we address every client’s needs with the utmost professionalism. To schedule a consultation with one of our experienced attorneys, call our Hot Springs office at 501-762-0887 or contact our office online. We are located at 123 Market Street, just off Central Avenue.