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"Breach of Contract: What You Need to Know"

Sep 25, 2023

Written by: Muskaan Patel



A breach of contract is a violation of any of the agreed-upon terms and conditions of a binding contract. When a party that signs the contract neither performs their contract nor tenders performance, or when the performance is defective, there is a breach of contract. The non-breaching party must prove that there is a breach of contract and that the contract that was breached was legally valid and enforceable.

 

There are two types of breaches of contract:

1) Anticipatory Breach of Contract

2) Actual Breach of Contract

 

An anticipatory breach of contract occurs when the party that signed the contract refuses altogether to perform their promises and signifies their unwillingness to fulfill the contract, even before the time of performance has arrived. By declaring an anticipatory breach, the opposing party may begin legal action immediately, rather than waiting until the contract's terms and conditions are broken.

 

An actual breach of contract occurs when the party that signed the contract refuses to perform the promise on the scheduled date. When one of the parties breaks the contract by refusing to keep the promise when it falls due, it is an actual breach.

 

It's important to note that the information provided here is for general informational purposes only and is not legal advice. If you have specific questions or concerns about contract issues, it is advisable to consult with an attorney who can provide you with guidance tailored to your situation.

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