Injunctive Relief Agreement Without Posting Bond In Chicago
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Some examples of cases where parties may seek injunctions include: Theft of clients: Former employees, partners who have left a company, or other parties to business contracts may violate non-compete agreements and attempt to lure clients away from the company.
Injunctive relief means that the discloser is able to obtain a preemptive court order preventing the information from being spread. A clause can entitle a party to apply for an injunction to prevent the other party disclosing, or continuing to disclose, the confidential information.
The remedies of specific performance and injunction are similar, but the key difference is that while an order for specific performance orders a party to do something, an injunction orders a party not to do something. In other words, specific performance is a positive remedy whereas, an injunction is a negative remedy.
Preliminary injunction. n. a court order made in the early stages of a lawsuit or petition which prohibits the parties from doing an act which is in dispute, thereby maintaining the status quo until there is a final judgment after trial. See also: injunction permanent injunction temporary injunction.
In summary, an injunctive relief clause provides for urgent judicial enforcement of vital obligations that cannot await standard remedies or compensation without potentially irreparable harm.
The equitable remedies are specific performance (an order directing a person to deliver to the buyer the unique thing the seller contracted to sell), injunction (an order directing a person to stop doing that which he should not do), and restitution (the return by one party of the benefit conferred on him when the ...
Some jurisdictions may require the party seeking equitable relief to post a bond or other security prior to granting such relief. The purpose of this requirement is to protect the party against which equitable relief is sought in the event it is ultimately determined that such relief was not appropriate.
Equitable relief is usually a remedy for a breach of contract or in cases of intellectual property theft. A common form of equitable relief is the canceling of a contract, which ends all terms and obligations, allowing both parties to return to their pre-contract status.
Injunctive relief usually takes one of three forms: temporary restraining order (TRO), preliminary injunction, and permanent injunction. As their modifying terms imply, each has a different level of the time commitment involved.
In many cases, a contract will include an injunctive relief clause stating that one or both parties are entitled to relief to prevent them from suffering harm due to a breach of contract.
