January 05, 2016
What is a Breach of Contract?
In a perfect world, when individuals and businesses enter into formal agreements, both parties would keep their promises and receive the desired outcome. However, in the real world people don’t always fulfill their contracts or agreements. Sometimes delays or financial problems occur, among a variety of other unexpected problems. When problems occur that prevent a party from fulfilling their contract, it is known as a “breach of contract.” The failure to complete any part of a contract without a legal excuse results in a breach of contract. A breach of contract can include the failure to complete a job, deliver goods, or pay the agreed amount of money on time.
Material Vs. Minor Breach of Contract
Not every breach of contract is the same; a breach can be either material or minor depending on the situation at hand. For example, a breach of contract is material if one party’s failure to complete their obligations results in the other party receiving something substantially different than was agreed to in the contract. If the breach was willful, negligent, or harmful to the other party, it is material. When a breach is material, the other party is released from its duties in the contract and has the right to seek compensation for the breach of the entire contract. A minor breach occurs when the other party receives what was promised in the contract, even if the breaching party fails to perform a specific aspect of the contract.
Settling a Breach of Contract with a Civil Lawsuit Attorney
When a breach of contract occurs, it is essential to work with a civil lawsuit attorney who can guide you through the process of determining the type of breach that occurred and how to best seek compensation for any damages or losses. For legal help in the Lee’s Summit and Kansas City area, call Daniel C. Miller today at (816) 875-0470.