Section 28 Remedies for Breach

• Library: Bus Trans 2005

An agreement may set forth specific remedies for breach of any representation, covenant, or condition. Often, however, the agreement provides for broader remedies. If any material representation, covenant, or condition is breached before the closing of the transaction, the minimal remedy is for the nonbreaching party to have the express option of terminating the agreement and refusing to consummate the transaction. Typically, the nonbreaching party may also want to have the right to seek recovery of any...