Breach-of-Contract (BOC)
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A Breach-of-Contract (BOC) is a Legal Violation that occurs when one contract party fails to fulfill their obligations, either partially or completely, as outlined in the contract.
- Context:
- It is any legal violation of the agreed-upon terms and conditions of a binding contract.
- It can range from being a Minor Breach-of-Contract to being a Material Breach-of-Contract.
- It can range from being an Actual Breach-of-Contract to being an Anticipatory Breach-of-Contract.
- It can range from being a Trivial Breach-of-Contract to being a Material Breach-of-Contract.
- It can be a Mutually Beneficial Breach of Contract.
- It can have specific legal implications and remedies such as actual and punitive damages, or specific performance.
- It can result in various legal remedies for the non-breaching party, including compensatory damages, specific performance, and in some cases, termination of the contract.
- It can involve the evaluation of the contract's validity, the nature of the breach, and the damages incurred, all of which are critical in determining the appropriate legal response.
- ...
- Example(s)
- A Material Breach-of-Contract, such as when a web developer fails to deliver a website by the agreed deadline, rendering the contract void and entitling the client to seek compensatory damages.
- An Anticipatory Breach-of-Contract such as when a supplier informs a manufacturer in advance that they will not be able to deliver goods on time, allowing the manufacturer to seek an alternative supplier without breaching the contract themselves.
- An Actual Breach-of-Contract, such as when one party refuses to fully perform the terms of the contract.
- A Partial Breach of Contract, such as a contractor delivers a project two weeks late, violating the agreed deadline, but the client accepts the work with a minor penalty for the delay.
- A Non-Payment Breach of Contract, such as a client not making a scheduled payment to a construction company after the completion of a project milestone.
- An Incomplete Work Breach of Contract, such as a software development firm failing to complete the final phase of a custom application, leaving it with bugs and missing features.
- ...
- Counter-Example(s):
- See: Contract Law, Binding Agreement, Specific Performance, Compensatory Damages, Alternative Dispute Resolution (ADR).
References
2024a
- (ChatGPT-OpenAI, 2024) ⇒ Prompt: Summarize the concept Breach-of-Contract in 1- 2 paragraphs. ChatGPT (model:gpt-4o). Retrieved: 2024-08-10.
- QUOTE: Breach-of-Contract refers to a violation of any of the agreed-upon terms and conditions of a binding contract. This can occur when a party fails to perform their duties stipulated in the contract, performs them inadequately, or openly declares an intention not to perform them at all. Breaches can be classified as minor (or partial) breaches, which allow the contract to continue but may result in damages, or material (or total) breaches, which can result in the termination of the contract and possible legal action for damages.
When a breach occurs, the non-breaching party typically has several legal remedies available, including specific performance (forcing the breaching party to fulfill their obligations), rescission (canceling the contract), and monetary damages to compensate for losses. The severity of the breach and the impact on the contract's intended outcome will often dictate the appropriate remedy. Understanding and addressing breaches promptly is crucial to maintaining contractual integrity and ensuring fair business dealings.
- QUOTE: Breach-of-Contract refers to a violation of any of the agreed-upon terms and conditions of a binding contract. This can occur when a party fails to perform their duties stipulated in the contract, performs them inadequately, or openly declares an intention not to perform them at all. Breaches can be classified as minor (or partial) breaches, which allow the contract to continue but may result in damages, or material (or total) breaches, which can result in the termination of the contract and possible legal action for damages.
2024b
- (Wikipedia, 2024) ⇒ https://en.wikipedia.org/wiki/Breach_of_contract Retrieved:2024-8-10.
- Breach of contract is a legal cause of action and a type of civil wrong, in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other party's performance. Breach occurs when a party to a contract fails to fulfill its obligation(s), whether partially or wholly, as described in the contract, or communicates an intent to fail the obligation or otherwise appears not to be able to perform its obligation under the contract. Where there is breach of contract, the resulting damages have to be paid to the aggrieved party by the party breaching the contract.
If a contract is rescinded, parties are legally allowed to undo the work unless doing so would directly charge the other party at that exact time.
- Breach of contract is a legal cause of action and a type of civil wrong, in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other party's performance. Breach occurs when a party to a contract fails to fulfill its obligation(s), whether partially or wholly, as described in the contract, or communicates an intent to fail the obligation or otherwise appears not to be able to perform its obligation under the contract. Where there is breach of contract, the resulting damages have to be paid to the aggrieved party by the party breaching the contract.
2024c
- (Kenton, 2024) ⇒ Will Kenton, Erika Rasure, and Timothy Li (2024) "Breach of Contract Explained: Types and Consequences". In: Investopedia, Economy, Government & Policy.
- QUOTE: A breach of contract is a violation of any of the agreed-upon terms and conditions of a binding contract. The breach could be anything from a late payment to a more serious violation, such as the failure to deliver a promised asset.
2023a
- (Asheychik, 2023) ⇒ Olga Asheychik (2023)."Breach of contract explained (with examples)". In: PandaDoc Blog.
- QUOTE: A breach of contract refers to one or more parties not sticking to the agreement outlined in a contract between them.
2023b
- (Tran, 2023) ⇒ Huy Tran (2023). "Contract: Examples, Consequences, & Legal Remedies". In: Le & Tran.
- QUOTE: A breach of contract occurs when one party fails to fulfill their obligations as specified in the contract or performs them inadequately. Now, let’s explore the different types of contract breaches and examine the methods employed to address such breaches in detail through this article.
2014
- (Legal Dictionary, 2014) ⇒ Legal Dictionary Content Team (2014). "Breach Of Contract". In: [LegalDictionary.net].
- QUOTE: When any party to a contract, whether oral or written, fails to perform any of the contract’s terms, they may be found in breach of contract. While there are many ways to breach a contract, common failures include failure to deliver goods or services, failure to fully complete the job, failure to pay on time, or providing inferior goods or services. In other words, a breach of contract is a broken promise to do or provide something (...)