Good Faith and Fair Dealing in Business Transactions: Litigation Risks
When business transactions go bad – either because they fail on their own terms or they never reach the closing table – there are often recriminations, accusations of bad-faith and threats of litigation. The parties negotiating these transactions are subject to certain standards of conduct which, if violated, give rise to liability. Various theories of liability exist, including breach of the duty of good faith and fair dealing, negligent or fraudulent misrepresentation, and interference with a business expectancy. This program will provide you with real-world guide to the standards of conduct in business transactions and your clients can mitigate risk of liability.
· Sources of fiduciary standards in negotiating, drafting and closing business transactions
· How fiduciary standards are commonly breached in transactions
· Role of business torts, including negligent and fraudulent misrepresentation, interference with a business expectancy
· Risks of litigation and practical remedies – damages, rescission, specific performance
· Special duties in closely held businesses, including misappropriation of company opportunities
Speaker:
Shannon M. Bell is a member with Kelly Law Partners, LLC, where she litigates a wide variety of complex business disputes, construction disputes, fiduciary claims, employment issues, and landlord/tenant issues. Her construction experience extends from contract negotiations to defense of construction claims of owners, HOAs, contractors and tradesmen. She also represents clients in claims of shareholder and officer liability, piercing the corporate veil, and derivative actions. She writes and speaks on commercial litigation, employment, discovery and bankruptcy topics.
Disclaimer: All views or opinions expressed by any presenter during the course of this CLE is that of the presenter alone and not an opinion of the Oklahoma Bar Association, the employers, or affiliates of the presenters unless specifically stated. Additionally, any materials, including the legal research, are the product of the individual contributor, not the Oklahoma Bar Association. The Oklahoma Bar Association makes no warranty, express or implied, relating to the accuracy or content of these materials.