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What is a breach of contract?

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تم إضافة السؤال من قبل Vinod Jetley , Assistant General Manager , State Bank of India
تاريخ النشر: 2015/03/03
Vinod Jetley
من قبل Vinod Jetley , Assistant General Manager , State Bank of India

Contracting party's actual failure or refusal to perform (or a clear indication of its intentions to not perform) its obligations under the contract. A breach could be effected by (1) repudiation of obligations before the beginning of the contract, (2) repudiation of obligations before its completion, or (3) a conduct that prevents the contract's proper performance.

Sahar Alech
من قبل Sahar Alech , Auditor / Financial Manager , Accounting Services Office

Agree with all answers..........

Elke Woofter
من قبل Elke Woofter , Project Assistant , American Technical Associates

Breach of contract is a legal cause of action in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract. ...

Failing to perform any term of a contract, written or oral, without a legitimate legal excuse. This may include not completing a job.

hassan younis
من قبل hassan younis , مهندس , جهاز استثمار مياه النهر الصناعي

All answers are correct ..... 

Mir Mujtaba Ali
من قبل Mir Mujtaba Ali , Internal Audit Manager , Confidential

Well, explained by experts

Nasir Hussain
من قبل Nasir Hussain , Sales And Marketing Manager , Pakistan Pharmaceutical Products Pvt. Ltd.

A party's failure to fulfill an end of the bargain under a contract is known as a "breach" of the contract.

JOSE RAFAEL JR CANAYA
من قبل JOSE RAFAEL JR CANAYA , CAMP ADMINISTRATOR /OPERATIONS ADMINISTRATION , COPPERFIELD MIDDLE EAST

by not performing what has been agreed upon in a written contract. or by running away from a contract.

wael mohammed
من قبل wael mohammed , -Branch Manager , canal regional company

Breach of contract is a legal cause of action 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. If the party does not fulfill his contractual promise, or has given information to the other party that he will not perform his duty as mentioned in the contract or if by his action and conduct he seems to be unable to perform the contract, he is said to breach the contrac

Bilal Khan
من قبل Bilal Khan , Senior Tax Accountant , Finvesco Limited

When one or more expressed or implied terms of the contract is breached by either party will invalidate the contract due to breach of contract. Penalties or fines or compensation has to be made and the contract should be re-agreed upon if both parties wish to continue their contracts.

 

Expressed terms are stated clearly on the paper any breach in such terms are obvious butt he tricky part is with the breach of  implied terms which are not specifically stated in the contract but are dully expected from the counter party due to the inherent nature of the business for example if you get your vehicle serviced including changing your break pads the implied terms between you and dealer would be of due car, if while driving your breaks failed their was breach of the contract as the dealer did not served you with due care....

Saiful Islam Hiron
من قبل Saiful Islam Hiron , Site HR Manager , Handicap International

Any parties fails to maintain agreement terms and conditions.

Alex Al Yazouri
من قبل Alex Al Yazouri , General Manager , Al Mushref Cooperative Society

Breaching a contract is when one of the parties involved goes against what is laid out in the contract.

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