BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A breach of contract occurs when one party in a binding agreement fails to deliver according to the terms of the agreement. A breach of contract can happen in both a written contract and an oral contract. The parties involved in a breach of contract may resolve the issue among themselves or in a court of law.

Detailed explanation-2: -Legally, one party’s failure to fulfill any of its contractual obligations is known as a “breach” of the contract. Depending on the specifics, a breach can occur when a party fails to perform on time, does not perform in accordance with the terms of the agreement, or does not perform at all.

Detailed explanation-3: -Generally speaking, there are four types of contract breaches: anticipatory, actual, minor and material.

Detailed explanation-4: -A breach of contract is a failure, without legal excuse, to perform any promise that forms all or part of the contract. This includes failure to perform in a manner that meets the standards of the industry or the requirements of anyexpress warranty or implied warranty, including the implied warranty of merchantability.

Detailed explanation-5: -THE OTHER GUY BREACHED, DO I STILL HAVE TO PERFORM? Even if a contract is actually breached, the non-breaching party still must perform under the contract. If a party commits an anticipatory breach, however, the non-breaching party does not need to perform its obligations under the contract.