Breach of Contract Theory

Breach of Contract Theory refers to the legal concept that occurs when one party fails to fulfill their agreed-upon obligations in a contract without a valid excuse. This breach can be either material (significant) or minor. When a breach happens, the other party is typically entitled to seek remedies such as damages or specific performance. The theory emphasizes that contracts are legally binding agreements, and failure to honor those commitments undermines trust and can result in legal consequences for the breaching party.