BREACH CONTRACT Meaning and
Definition
-
Breach of contract refers to the act of violating or failing to fulfill any of the terms or conditions agreed upon in a legally binding contract. A breach of contract occurs when one party fails to perform their obligations as stated in the agreement, thereby interfering with the rights of the other party involved. It is considered a legal offense and can entitle the injured party to seek remedies or damages for their losses.
There are different types of breaches of contract, including actual breach, anticipatory breach, and partial breach. An actual breach occurs when one party completely fails to perform their obligations under the contract. Anticipatory breach, on the other hand, refers to situations where one party clearly communicates their unwillingness or inability to fulfill their contractual obligations before the agreed-upon performance deadline. Lastly, a partial breach takes place when one party partially fulfills their obligations but fails to do so satisfactorily or according to the specifications outlined in the contract.
The consequences of a breach of contract often depend on the nature and severity of the breach, the terms outlined in the contract, and applicable laws. The injured party may be entitled to specific performance (forcing the breaching party to perform their obligations), monetary damages, or other equitable remedies. It is worth noting that in some cases, contracts may include specific provisions that outline the consequences of a breach, such as liquidated damages or termination clauses.
Common Misspellings for BREACH CONTRACT
- vreach contract
- nreach contract
- hreach contract
- greach contract
- beeach contract
- bdeach contract
- bfeach contract
- bteach contract
- b5each contract
- b4each contract
- brwach contract
- brsach contract
- brdach contract
- brrach contract
- br4ach contract
- br3ach contract
- brezch contract
- bresch contract
- brewch contract
- breqch contract
Etymology of BREACH CONTRACT
The word "breach" can be traced back to the Old English word "bryċġan" which means "to break", "to violate", or "to rupture". It has its roots in the Proto-Germanic word "brekaną" and is related to the Old Norse word "brjóta" and the Middle Dutch word "breken". Over time, "breach" came to denote a violation or infraction of an agreement, rule, or law.
The term "contract" comes from the Latin word "contractus" which means "drawn together" or "agreed upon". The Latin word derives from the past participle of the verb "contrahere", which combines "con-" (meaning "together") and "trahere" (meaning "to draw").
Infographic
Add the infographic to your website:
