Breach of contract
Breach of contract may involve:
- Breach of a fundamental or essential term of the contract
- Anticipatory breach or repudiation of the contract
- Breach of a non-essential term of the contract
Breach of a fundamental or essential term of the contract is a breach of a term so essential to the contract that the failure by the breaching party to perform that term may be considered a substantial failure to perform the contract at all by that party.
Anticipatory breach or repudiation of the contract involves conduct by the breaching party which shows an unwillingness to be bound by the contract any longer or to perform the contract in such manner as is, essentially, inconsistent with the party’s obligations under the contract.
Breach of a non-essential term of the contract involves conduct by the breaching party which may generally be considered conduct which does not amount to depriving the innocent party of the substantial benefit of the contract.
There are a number of remedies available for breach of contract and actions which a innocent party may seek in respect of a breach of contract both in law, and, on occasion, in equity.
These remedies include:
- Compensatory damage
- Nominal damage
- Liquidated damage
- Unliquidated damage
- Specific performance
Typically, compensatory damages will be awarded for breach of contract, which, in effect, put the innocent party into that position that they would have held had the breaching party properly performed the contract.