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Legal Dictionary
Term: breach of contract
1.
A failure by a party to perform an obligation under a contract. The obligation may be express (that is, agreed in writing or orally) or implied by common law or statute. The breach of contract may be breach of warranty, a breach of a condition or an intermediate breach of contract. Remedies for breach of contract include damages in some instances equitable relief, such as injunctions (including specific performance) and accounts of profits.
The most frequent remedy for breach of contract is damages. Damages are available provided that they are proved.
See repudiatory breach and breach of warranty.
Usage: The party terminated the contract for breach of a condition.
Related Words: warranty; indemnity; contract; agreement; repudiatory breach; condition of contract; breach of warranty; material breach; damages; anticipatory breach of contract; remoteness of damage; mitigation of loss.
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