Breach of contract means a breach of an agreement between two parties, which was previously done mutually. It falls under legal cause and is an illegal act in the eyes of law.
When two parties decide to agree on a subject with the help of an agreement, they make a contract, which is followed by both parties. But if it is disobeyed by one of the parties, it becomes invalid. It can also happen when one party fails to fulfill the conditions mentioned in the agreement. In this case, one party can sue the other on the basis of his profit and loss.
Sometimes, the original contract also includes what would be the practical procedure for breach of contract. For example, sometimes the contract which states all the terms like rent will be paid on this particular date and if the other party fails to do so, they will have to pay any kind of penalty.
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Types Of Contract Violation
1) Minor violation-This happens when you do not get the items listed in the contract on time and get delayed. If you were bound in an agreement it would be considered illegal.
2) Material Violation- Breach occurs when you receive a contract or anything other than what is stated in the contract.
3) Actual Violation- In this type of breach, the other party refuses to perform the work specified in the contract. When one of the parties refuses to perform the work in accordance with the terms and conditions agreed in the contract.
Remedies for the Contract Violation
1) Damages – The remedy for a contract may be the payment of damages or the payment of damages to the other party. This is the most common remedy for breach of contract.
2) Get Legal Help – You can seek legal aid in breach of contract to cover your losses and get the best results. Breach of contract can cause substantial damages to the other parties. Hence, strict action is needed.
- Section 39 of the Indian Contract Act states that “any notice whether by words or conduct that the party refuses to continue with the contract, if the result is likely to deprive the innocent party of the benefits of the contract”.