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Breach of Contract – Damages
By: Derek Hawkins//November 11, 2015//
Listen to this articleCivil
7th Circuit Court of Appeals
Officials: BAUER, FLAUM, and WILLIAMS, Circuit Judges.
Breach of Contract – Damages
No. 14-1416; 14-1555 BRC Rubber & Plastic, Incorporated v. Continental Carbon Company
District court incorrectly classifies agreement as a “requirements contract”
“While this provision does refer to an “obligation” on the part of BRC, it does not show that BRC was obligated to buy carbon black from Continental. The provision is more naturally read as a “right of first refusal,” meaning if BRC sought to buy carbon black from another seller at a lower price, Continental had to be given the chance to meet that price. But nothing in the “Meet or Release” provision prevented BRC from manufacturing its own carbon black or abandoning its use of carbon black altogether. In other words, the provision did not obligate BRC to buy carbon black from Continental”
Vacated and Remanded
Attorney Derek A. Hawkins is the managing partner at Hawkins Law Offices LLC, where he heads up the firm’s startup law practice. He specializes in business formation, corporate governance, intellectual property protection, private equity and venture capital funding and mergers & acquisitions. Check out the website at www.hawkins-lawoffices.com or contact them at 262-737-8825.
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