A "Material Breach" refers to a significant violation of a contract that undermines its core purpose. This type of breach allows the non-breaching party to seek remedies, such as damages or termination of the contract. It is more serious than a minor breach, which may not affect the overall agreement. In legal terms, a material breach occurs when one party fails to fulfill essential obligations, impacting the other party's ability to receive the benefits of the contract. Examples include failing to deliver goods as specified or not completing work on time, which can lead to disputes and potential litigation.