What is the definition of "breach of contract"?

The definition of "breach of contract" is accurately described as the violation of the terms of a contract by one party. In legal terms, a contract represents a binding agreement wherein each party assumes certain obligations or duties. When one party fails to fulfill its obligations, either by not performing, performing poorly, or not performing on time, it constitutes a breach. This breach can lead to legal consequences, including potential compensation for damages incurred by the non-breaching party.

Understanding the concept of breach of contract is essential in legal contexts because it helps outline the rights and remedies available to affected parties. By defining it as a violation of the contract’s terms, it emphasizes the importance of adherence to agreed obligations, enabling parties to seek recourse when those obligations are not met.