What do you call it when someone fails to perform a contract term? It's a breach. The three main remedies for a material breach are rescission, monetary damages, and specific performance.
Get ready for question of the day. Failure to perform any of the terms or conditions of a contract is called: A. A break. B. An addendum. C. A novation. D. A breach. The answer is letter D. Breach of contract is the violation of any of the terms or conditions of a contract without legal excuse. The non-breaching party can usually seek one of 3 alternative remedies upon a material breach of the contract: rescission of the contract, an action for money damages, or an action for specific performance. Learn something new? Give us a like, tag a friend, and let's keep the conversation going. Message us here or visit our website.
