In order to understand the concept of ‘contract breach’, you first need to know what a contract is. A contract put in simple terms, is an agreement between two consenting parties which legally binds the two parties to the terms set in the contract. Both the parties are obligated to uphold the agreed upon terms and policies set in the contract. Contracts can be of two types. You can have a ‘verbal contract’ in which both the parties verbally agree upon the terms of the contract and there is no paper work involved. This type of contract often leads to misunderstandings and cause problems later on. The second type […]