BREACH OF AGREEMENT
A breach of agreement can be classified
into different types, including minor, material, anticipatory, or fundamental
breaches, depending on the nature and impact of the violation. A minor breach
may involve small deviations from the contract terms, such as a delay in
delivery, while a material breach refers to a failure that strikes at the core
of the agreement, making it impossible for the other party to receive the
intended benefit. An anticipatory breach occurs when one party indicates,
through words or actions, that they do not intend to fulfill their obligations
even before the performance is due. When a breach occurs, the aggrieved party
has several legal remedies available under contract law. These may include
claiming compensation for damages, seeking specific performance (forcing the
breaching party to carry out their contractual duty), or rescinding the
contract entirely to avoid further losses. In some cases, the affected party may
also be entitled to restitution, which aims to restore them to the position
they were in before the contract was made. To minimise risks, many contracts
include dispute resolution clauses, specifying how conflicts will be
handled—such as through negotiation, mediation, arbitration, or litigation.
These mechanisms help resolve disputes efficiently and reduce the burden of
lengthy court proceedings.