Breach Of Contract Analysis

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In contracts, some parties involved cannot not avoid violation of an agreement. A breach of contract occurs when someone fails to do what they’ve agreed to do, as stated by Baldwin and Briscoe (2013). Breach of contract means that one party did not comply to what he has supposed to do in good faith according to the agreed contract of the parties. Breaches of contract can also include non payment for a service or not paying on time, failure to deliver services or goods, and being late with services without a reasonable excuse, according to (Crystal 2017). Frequent examples are failure to comply with an agreement, failure to render or deliver goods and services, and failure to pay debt in time. The terms and conditions of the contract should…show more content…
A valid contract, oral or in writing, should be certainly valid for a breach to be considered. A breach cannot be suitable when the contract itself is not enforceable. There must be three essentials to establish the existence of a valid contract. These elements are offer, acceptance, and consideration. The first element, offer, will arise when the parties agreed to go through to a contract. This stage includes the discussion of the requisites of goods and services in substitute for somewhat of worth must have been complete or offer. For example, it is not an offer when the circumstance is, “I will trade you my horse if you have a cow.” “I will trade you my horse for a P10,000 worth of cow if you can do business with me by Monday, and I will bring you it by its current state” is an…show more content…
However, when determining the consequences for the breach, it should be taken into consideration the degree of damages one caused to another. These will determine the liability of the offending party, whether the contract will be terminated or not, or the right of payment for the damages. Moreover, the innocent party, to have a reimbursement or to be successful in a lawsuit, must provide evidence that the nature of the loss resulted to damages. As stated by Legal Dictionary, actual damages or loss may be in the form of money lost, time lost, loss of opportunity, or a host of other
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