Breach Of Contract


Definition of "Breach of contract"

Rosemarie Averhoff real estate agent
Rosemarie Averhoff, Real Estate Agent RE/MAX Metro Associates

Failure, without sufficient reason, for one or both parties to perform the terms of a real estate contract. Breach requires unequivocal, decisive, and absolute refusal to carry out the agreement. When a breach takes place, the damaged party may recover the resulting losses. It is also possible to sue for performance if recovery is inadequate.

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