When it comes to business, one of the very important aspects of success is building trust. Part of building trust involves keeping the contract. It is also important to make sue the contract is understood by the other party so that there will be no confusion. In other words, one of the best things to do is to explain the terms in plain and simple language. It is also a good thing to avoid any jargon that could confuse the other party. However, there is one contract that has been breached, and that is the contract between the old owners of the Atlanta Hawks and AIG.
One of the members of the former group that owned the Atlanta Hawks is Bruce Levenson. He was one of the people that have looked over the contract in order to make sure that everything is understood. This also helps them figure out whether or not the contract is a good idea to sign or not. There is always the chance that something in the contract could work as a loophole. This is why Bruce Levenson has made sure that his group has signed a contract that could benefit them so that they do not find themselves in an unfavorable circumstance in the case the contract has been breached.
AIG is not only going to have to pay a lot of expenses, but according to experts from ESPN it is also going to have to work to regain the trust it has lost as a result of the lawsuit going public. This is definitely going to be something that is going to be hard to recover from for the insurance company.
For one thing, people don’t think about getting insurance for anything beyond cars, health, or even life insurance. Insurance policies are also good for mistakes that could cost money as well. This info can be sourced from Wikipedia.org.