Contracts are made between businesses in New York, and around the globe, on a regular basis. They are an integral part of accomplishing business goals and often have a bearing on the outcome of various projects. When breaches of contracts occur, the way in which a business is run could be affected.
Some people may have been paying attention to a trial playing out across the county. The biggest casino company in the United States, Las Vegas Sands Corp., has been engaged in a lawsuit with a businessman from Hong Kong. The basis of the case was a contract between the man and the casino company. The man was hired as a consultant to try to help Sands obtain a gambling license in Macau, where gambling is legal and popular. Close to a decade ago, the businessman sued Sands alleging breach of contract.
The man from Hong Kong won the initial case several years ago. Based on the contention that inadmissible hearsay was presented to the jury during the trial, the casino company obtained a retrial. That trail again resulted in victory for the businessman and for a second time, for the same reason as earlier, Sands tried to obtain a retrial. That petition was recently denied. The businessman was awarded $70 million by a jury as a result of the second court case, though if Sands has its way, the award will not stand. Sands is expected to appeal the matter to the state Supreme Court.
Depending on the size of the businesses involved in a breach of contract lawsuit, it is possible that the life of a business will be put at risk. For this reason, most businesses want to address these matters in a timely manner. Working with lawyers who have handled these types of cases in the past is a good place to start.
Source: Insurance Journal, "Judge Won't Toss $70M Jury Award Against Las Vegas Sands," Hannah Dreier, Aug. 1, 2013