What does a breach of contract refer to?

A breach of contract refers to the failure of one party to meet the terms of a contract. This can occur in various forms, such as not delivering goods or services as promised, failing to make payments on time, or not adhering to other agreed-upon conditions. When a breach happens, the affected party typically has the right to seek remedies, which may include damages, specific performance, or cancellation of the contract. Understanding this definition is crucial for recognizing the implications of contractual obligations and the legal remedies available when one party does not fulfill their commitments.