Unfortunately there are times when one party does not comply with the terms of a contract and this is referred to as breach of contract. There may be many reasons why one party is in breach of contract and it is important to know your rights if your contract is breached.
- It is important not to wait too long after a breach of contract before taking action, as an unreasonable delay in time may be regarded as an acceptance of the breach.
- Where a contract is broken without fault on the part of either party the contract is said to be frustrated (not breached). In this situation both parties are automatically discharged from any further obligations they had under the contract.
- Where a party was at fault, the main remedy when there has been a breach of contract is to claim damages. It may also be possible, depending on the contract wording, to terminate the agreement.
For further information in relation to specific forms of contract, you may wish to visit the pages below:
- Sales contracts
- Business terms
- Terms and Conditions
- Franchising contracts
- Outsourcing agreement
- Licensing agreements
- IT contracts
- Shareholder agreements
For further help call us on +44 (0) 20 7700 1414.