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Suppose you are employed as a risk management consultant and the President of one of your...

Suppose you are employed as a risk management consultant and the President of one of your corporate clients has contacted you for advice. One of his most valued suppliers has sued his company alleging breach of contract. Discuss how you would advise him as to the pros and cons of both litigation and ADR options and what steps would need to be taken to best resolve the issue.

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Answer #1

Pros And Cons oF ADR (Alternative Dispute Resolution)-

Pros-              

Cons-

More Private Than Court

No Guarantee of resolution

Inexpensive

No Guarantee Of good faith

Faster than any other

Stalling Tactic

Flexible

Multi Party disputes

Risk Free

Pros And Cons oF Litigation-

Pros-              

Cons-

Proper Transparency

Expensive

Proper Evidence

Time taking

Guarantee of resolution

Publicly

All Or Nothing

Not flexible

Steps for best resolve the issue-

  1. Decide which remedy which suits in you case and for that hire a lawyer for that.
  2. Reviewing the Contract and all supporting correspondence
  3. Writing a letter in response
  4. Responding to lawsuit
  5. Consider Settlement decide best remedy like, Money damages, Restitution, Rescission, Specific Performance.
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