Broken Agreements & Contracts
Where a party breaks the terms of an agreement, this can result in a Breach of Contract.
Whether we are buying or selling goods or services, the majority of transaction that we enter into in our personal lives involve the making of a contract. The contract does not have to be in writing, a contract can exist through conduct or by a verbal agreement. Even the purchase of a loaf of bread from your local supermarket results in you forming a contract.
Where a party breaks the terms of an agreement, this can result in a Breach of Contract.
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When considering whether a contract has been breached and assessing what options are available to you, we first need to ascertain the type of breach that has occurred. The most common types of breach are:
- Anticipatory Breach
- Fundamental Breach
- Material Breach
- Minor Breach
Where there has been a breach of the contract and you have suffered a loss as a result of this breach, you may have the option of suing the other party to recover your loss.
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Holly is a Member and Head of Mullis and Peake’s Dispute Resolution Department
Martyn is our Chairman and the firms' Compliance Officer for Legal Practice
