![]() ![]() However, a failure to fulfill one of the requirements does not automatically create a breach of contract that would enable the aggrieved party to cancel the contract or regain their financial losses. Material or Non-Material Breach of ContractĬontracts frequently contain a multitude of specific terms and may impose many types of requirements upon each party who chooses to agree to the terms. Additionally, depending on the circumstances, the aggrieved party may be relieved of the requirement to fulfill that party’s portion of the contract. Taking legal action against the other party can compel fulfillment of the contract or recover financial losses that may have occurred as a result of the broken agreement. The aggrieved party can respond to breach of contract by working with an Arizona contract or litigation lawyer. In addition to frustration and disappointment, breach of contract can lead to damaged relationships, loss of trust between the parties, small or large financial losses, business reputation loss, and much more. In legal terms, this failure to fulfill a contract is called “breach of contract”. But sometimes, one party to the contract fails to honor the agreement. Most of the time, contracts are fulfilled and both parties are happy with the outcome of their arrangement. You probably know that a contract is a written document outlining legal obligations that are agreed upon and must be fulfilled by the parties to the agreement. ![]() Non-Material Breach Of Contract: What Are The Differences? Understanding How Breaches Of Contract Occur in Arizona ![]()
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