Contract Breach
A "Contract Breach" occurs when one party fails to fulfill their obligations as outlined in a legal agreement. This can happen in various forms, such as not delivering goods on time, failing to make payments, or not providing services as promised. When a breach happens, it can lead to disputes and potential legal action.
The affected party may seek remedies, which can include monetary compensation or specific performance, where the breaching party is required to fulfill their contractual duties. Understanding the terms of the contract is crucial, as it helps determine what constitutes a breach and the appropriate response.