Breach of Contract
A breach of contract occurs when one party fails to fulfill its obligations or violates any of the agreed-upon terms and conditions as outlined in the agreement. Breaches can be classified as minor or material, depending on the severity and impact on the contract.
Examples of contract breaches
A construction company failing to complete a project by the agreed deadline constitutes a breach of contract.
If a service provider does not deliver the agreed-upon services, such as IT support, this could lead to a breach of contract claim by the client.
