Business Litigation Law (International Business Law) Essay

Business Litigation Law (International Business Law) - Essay Example The paper concludes with summarization of the main point s discussed in the whole paper. Business litigation is a complex issue and area which involves many tort claims and contractual claims. Such claims many include the following fraud, breach of contract, the breach of fiduciary duty, unfair competition, infringement of intellectual property rights and tortuous interference with contract (Law Office 2012). In case any of the above disputes arise in a business setting, and the parties involved are unable to reach a conclusion through negotiation or arbitration, then, business litigation is applied in such instances in order to look for justice and also resolve the issue at hand. Business litigation does not only involve a business suing other businesses, even individuals have rights to sue businesses and also businesses also have rights to sue businesses. Corporate litigation and commercial insurance litigation are some of the sources of business litigation (James 2011). Corporate litigation arises when there is a corporate dispute caused by a breach of duty of fiduciary. A perfect example of corporate dispute is an instance where the shareholders in any given closely held corporation may recover against the leader or manager or even a corporate director if he or she breaches or goes against his or her fiduciary obligations. In commercial insurance litigation, such a dispute may arise when a commercial insurance company denies or undervalues a fair claim (James 2012). In such a circumstance, the victimized business has a right to sue the corporate insurance in order to recover the amount of money that he believes that he owns and entitled to. In many cases, such instances arise since many insurance companies put some clauses which they rely mostly on in any contract which will make them not to pay a fair claim to the other party. There are other many countless and countless areas in which business litigation can be used to resolve and settle any dispute among many businesses (Thorses 2005). In the case Ahmad et al, v. Foodmaker, Inc, a $ 58,000, 000 fine was paid in order to settle Jack Box food poisoning case on behalf of the corporation which was parent corporation Of Jack in the Box (Edward 1995). ( Micheal 2012). In the case County of San Diego v. RanchoVista Del Mar, a verdict of $55,000,000 was given which in history has ever been the largest condemnation verdict in history o United States at that period. The accused filed an appeal and finally the injured party was paid $40,000,000. In the case Border Business Park V. City o San Diego, there was a breach o contract by San Diego which resulted to the company paying a fine o $94, 500, 000 as jury verdict. After the judge compiled all the granted fees and interest which was charged in the case, the total amount that San Diego paid to the client was over $136,000,000 (Mash 2012). Another perfect example of business litigation case was People o the state o California V. Grigory Zubkis and Rimma Zubkis, et al where $2, 750,000 and when the interest was added 2, 790,000 settlement was paid or the case which involved the taking o a private residence in order to expand a road. The case was decided by Lead attorney Partner Daral Mazzarella (Thorses 2012). Conclusion In case any business dispute arises between two business entities or between a