Breach of contract
ID:CVBCT
Video Overview
A contract is a voluntary, deliberate and legally binding agreement entered into by two or more parties. A breach of contract occurs when a party is at fault by refusing or failing to perform, as agreed to, without lawful excuse. It is important to realise that a contract can be terminated for reasons other than breach of contract. These include honouring the contract… or discharge… in other words the contract comes to a natural end by both parties simply doing what was required in terms of the contract. Impossibility of performance is another reason why a contract may be terminated. In this tutorial we will only be considering the various ways in which a contract can be terminated or otherwise compromised due to a breach of contract.
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