Contracts are legally binding agreements made between two parties. Usually, each participating party in a contract is providing a promise to perform a specific duty or pay a certain price for an item or service. Through contracts, each party can have legal recourse in the event that there is a breach in contract.
A breach of contract is when one party fails to execute on their promise outlined in the terms of the contact. This can occur by one party not fulfilling the contractual duties in the time frame specified, not completing the task as outlined or outright not performing any duties in the contract at all. If one party fulfills their end of the contract while the other party does not, the performing party is in their right to seek legal recourse.
There are four main types of breaches in contracts: minor breach of contract, material breach of contract, fundamental breach of contract and anticipatory breach of contract.
Minor breach of contract is when one party fails to perform a part of the contract but doesn’t violate the entire contact. As the name implies, the duty might be a small part of the contract where both parties can still complete their duties without breaching the contract in its entirety.
A material breach of contract occurs when a substantial part of the contract is not fulfilled rendering the other party to seek legal remedies. Many times a material breach can become a total breach where the performing party can disregard the contractual duties and seek legal counsel for damages.
Fundamental breach of contract is similar to a material breach in that the performing party can disregard the contractual obligations and seek damages. Fundamental breaches are considered to be monumental disregard for the terms outlined in a contract.
Lastly, an anticipatory breach of contract is when one party contacts the other party to inform them they are unable to complete the terms outlined in the contract. The party can do this either verbally or in writing. At this point, the non-breaching party can immediately seek damages usually in the form of payment for the breach of contract.
Should you or someone you know comes to be charged with a breach of contract or any criminal charges due to these circumstances, contact a criminal lawyer in Atlanta, GA as soon as possible to see what options you have available.
Thanks to Andrew R. Lynch, P.C. for their insight into personal injury claims and breach of contract.