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When there is a breach of contract,the injured party has the right to ask a court to somehow remedy the situation.
Breach of Contract
A violation of any of the agreed-upon terms and conditions of a binding contract, which may result in legal action or damages.
Injured Party
An injured party is a person or entity that has suffered harm, loss, or injury, either physically or in a more abstract sense, such as financially, and may be entitled to compensation or redress.
Remedy
A legal solution or compensation awarded to an aggrieved party in a judicial proceeding.
- Recognize the basic principles and elements involved in forming, enforcing, and interpreting contracts.
- Understand the rights and obligations of parties in a contract, including remedies available for breach of contract.
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Learning Objectives
- Recognize the basic principles and elements involved in forming, enforcing, and interpreting contracts.
- Understand the rights and obligations of parties in a contract, including remedies available for breach of contract.
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