breach of contract

Thesaurus

Noun

breach of contract - a breach of a legal duty; failure to do something that is required in a contractbreach - a failure to perform some promised act or obligationanticipatory breach, constructive breach - a breach of contract committed prior to the time of required performancebreach of the covenant of warranty - a failure of the seller's guarantee of good titlebreach of promise - failure to keep a promise (of marriage)breach of trust - violation (either through fraud or negligence) by a trustee of a duty that equity requires of himbreach of warranty - a breach that occurs when an item is deficient according to the terms of a warrantymaterial breach - a breach serious enough to destroy the value of the contract and to give a basis for an action for breach of contractpartial breach - a breach that does not destroy the value of the contract but can give rise to a claim for damages

Translations

breach of contract

n. failing to perform any term of a contract, written or oral, without a legitimate legal excuse. This may include not completing a job, not paying in full or on time, failure to deliver all the goods, substituting inferior or significantly different goods, not providing a bond when required, being late without excuse, or any act which shows the party will not complete the work ("anticipatory breach.") Breach of contract is one of the most common causes of law suits for damages and/or court-ordered "specific performance" of the contract. (See: breach, anticipatory breach, specific performance)

breach of contract

in the law of contract a breach of contract occurs when at least one party does not perform his obligations under the contract. A statement or a clear intention that there will be no performance is often known as repudiation. Breach results in an award of damages or specific performance (in England) or specific implement (in Scotland). See also ANTICIPATORY BREACH, REMOTENESS OF DAMAGE.

breach of contract

Breach of Contract

The nonperformance of a contract by one of its parties, or the interference by the party in the other party's performance. For example, if a company has a contract to build a house and does not build it, or does not build it to proper specifications, the company may be in breach of contract. Breach of contract entitles the offended party to sue and to collect damages resulting from loss of value he/she has suffered. Depending on the nature of the breach, the contract may be irreparably harmed and the offended party may be exempted from performance on his/her part.

breach of contract

A violation of some or all of the terms of a contract. Most contracts spell out specific remedies in the event of breach, but include a basket granting any and all other remedies allowed at law or equity.Some states have statutes making defaulting parties liable for the attorneys' fees of the other side;other states do not have such laws and attorneys'fees are recoverable only if that right is granted in the contract.

• In a real estate context, some purchase contracts provide that a breaching buyer will lose his or her earnest money but not be responsible for any other damages. If not so specified as a limitation on damages, then a breaching buyer is fully responsible for all the seller's damages, which could include losses when the property is sold for a lesser amount, costs of remarketing the property, attorneys' fees, and possibly even consequential damages such as the seller's loss of opportunity to purchase something else. In extremely rare cir- cumstances, the seller can obtain an injunction forcing the defaulting buyer to proceed with the purchase.

• If the seller defaults, the buyer may apply for an injunction to order the seller to proceed with the sale. This unusual remedy is because the law says that real property is so unique that money damages can never compensate one for its loss—only the property itself will suffice. Despite that, buyers may waive this remedy of specific performance and seek dam- ages instead. Under some circumstances they may receive both.

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Words related to breach of contract

noun a breach of a legal duty

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