ABSTRACT
In themajority of disputes arising from a contract, it is clear that self-help remedieswill most often be resorted to before the injured party considers their formal legal remedies. Self-help remedies have a number of economic advantages. They are cheaper, informal and quick. In the everyday world of business, they may also produce a powerful incentive to perform. Complaints and threats to reputation, the holding of the other party’s belongings and realisation of a ‘security’, all pose a considerable risk to those who claim legitimate breach or hope that an illegitimate breach will not be actioned because of the financial consequences. These factors provide an important backdrop to our consideration of formal remedies and will continue to be relevant as we move on to a consideration of whether or not litigation is the appropriate dispute resolution mechanism.
