When Does a Breach of Contract Occur?
When one party fails to fulfil their obligations stated in a legally binding agreement, it is considered a breach of contract. This can encompass various actions like late deliveries, subpar work, or outright refusal to comply with the agreed-upon terms.
Such breaches can be compared to breaking a promise and can result in financial harm or other complications for the party that upheld their end of the deal.
In response to these breaches, the party affected may seek compensation for the losses suffered, enforce specific performance, or even consider contract termination.