When a business relationship is formed, many ups and downs could occur. Although a contract between the parties involved memorializes this relationship and the agreements they have, this does not mean no issues will be present. This is especially true if one party to the agreement is not holding up their part of the agreement. Furthermore, if there is a breach in the business contract, this could give rise to a dispute among the parties.
Such an event is evidenced between the Chicago Symphony Orchestra and their musicians. According to recent reports, the musicians walked out when an agreement for a new contract was not reached last month. This conflict arose when both sides to the contract decided to do what they believe to be right. For the musicians, they seek to defend their hard-won benefits and for a salary that recognizes their status of the top American orchestra. In contrast, the Chicago Symphony Orchestra believes they are rightfully holding out for a change to their pension plan, as it could guarantee a more secure financial future.
And because neither side could reach an agreement in negotiations, the strike by the musicians persists. This has resulted in numerous cancelled shows, causing little hope for the remaining seven weeks of the season. When the strike was initiated, there was much hope for a quick resolution. However, both sides have proven that they are unwilling to budge on their stance. This has not only resulted in damages suffered by both sides, but grounds to believe that a resolution will never be reached this way.
When issues regarding a business contract arise, it is important to take steps to resolve them. However, if a resolution is not possible through negotiation methods, it may be appropriate to seek other legal methods and remedies. Business litigation could help the parties reach a resolution and could even help address the damages suffered because of the dispute or contract breach.