A contract is an agreement offered by one party and accepted by another.
Contracts are nearly always written documents in Alaska, however, it’s not possible to possess a wholly oral contract.
Once a contract isn’t fulfilled by one or more parties, there’s a Breach of Contract.
Title 10 –Corporations and Associations of Alaska Statutes governs matters related to contract performance and remedy for non-performance of contracts.
- The chapter describes that the cooperative has the right to create an injunction or prevent the expected breach of the contract and demand a specific performance from the promissor.
- According to Alaska Breach of Contract laws the aggrieved party is required to file a complaint with the Court with appropriate evident showcasing the non-performance or breach of contract.
- Further, any act that prevents a member from performing a contract or makes it impossible will also amount to breach of contract under the chapter.
Alaska breach of contract law is governing by the Corporation and Associations of Alaska Statutes.
Title 10 of this statutes basically describes the breach of contract matters.
AS 10.15.265 describes about the relief against the Breach or vulnerable breach of contract and penalty for interference.
There are two major sub-sections under this.
(a). within the event of a breach or vulnerable breach of cooperative contract approved by this chapter, the cooperative is entitled to an injunction to prevent the breach or an additional breach, and to a decree of specific performance of the contract.
Upon filling of a verified complaint showing the breach or vulnerable breach, and upon filling a decent bond, the cooperative is entitled to a temporary restraining order.
(b). a person who has the knowledge that a contract exists, induces or tries to induce a member to breach the contract with the cooperative, or who in a manner aids a breach of the contract, is liable to the cooperative for damages caused by the interference or further interference with the contract.
AS 10.15.270 describes about the action for civil penalty for inducing breach of contract with cooperative or spreading false reports regarding the cooperative.
The penalty under Alaska breach of contract law is like that:
It is the additional remedies provided in 10.15.265 (b) a person who knowingly and maliciously induces or ties to induce a member of a cooperative to breach a contract with the cooperative approved by this this chapter,
who knowingly or maliciously spreads a false report regarding the finances or management of a cooperative is liable, in that case civil action, to the cooperative aggrieved, within the penalty of total US $500 for each offense.