If the terms of a written or oral agreement between two or more parties are violated, this constitutes a breach of contract. A contract immediately creates an obligation to abide by the rules outlined in the agreement and is intended to be legally binding. In fact, some purchases – including agreements for purchasing a home, car, or even a cell phone service agreement – are considered common consumer contracts.
Contract breaches include actual breach, anticipatory breach, minor breach, and material breach. An actual breach is a party’s non-observance of the terms of the contract; an anticipatory breach is when the breaching party either expresses doubt over their ability to conform to the terms of the contract, or this inability becomes clear, ahead of the contract’s expected fulfillment; a minor breach refers to the inability to conform to a minor contractual obligation, but the task expected to be performed by the contract is completed; a material breach occurs when the task set out in the contract is completed with unexpected results.
When one party involved in a contract fails to meet the requirements of the contract, the other party has a right to seek compensation for any following damages. Typically, this amount would put the plaintiff in the position they would have been in had the breach not occurred.
Some common breaches of contract include breach of contract by seller, supplier breach of contract, breach of contract by buyer, contractor breach of contract, employer breach of contract, employee breach of contract, landlord breach of contract, and real estate breach of contract.
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