Breach of contract is a legal cause of action in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other party's performance. If the party does not fulfill his contractual promise, or has given information to the other party that he will not perform his duty as mentioned in the contract or if by his action and conduct he seems to be unable to perform the contract, he is said to breach the contract.
Breach of contract is a type of civil wrong.
Read more about Breach Of Contract: Minor Breaches, Material Breach, Fundamental Breach, Anticipatory Breach
Famous quotes containing the words breach of, breach and/or contract:
“Good manners, to those one does not love, are no more a breach of truth, than “your humble servant,” at the bottom of a challenge is; they are universally agreed upon, and understand to be things of course. They are necessary guards of the decency and peace of society.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)
“But to my mind, though I am native here
And to the manner born, it is a custom
More honored in the breach than the observance.”
—William Shakespeare (1564–1616)
“Smoking ... is downright dangerous. Most people who smoke will eventually contract a fatal disease and die. But they don’t brag about it, do they? Most people who ski, play professional football or drive race cars, will not die—at least not in the act—and yet they are the ones with the glamorous images, the expensive equipment and the mythic proportions. Why this should be I cannot say, unless it is simply that the average American does not know a daredevil when he sees one.”
—Fran Lebowitz (b. 1950)