Breach of Contracts and Remedies


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Breach of Contracts and Remedies
Breach of Contracts and RemediesA breach of contract occurs when there is an absolute duty to perform but the duty is not discharged by the breaching party. A minor breach occurs if the affected party still gains the substantial benefit of the transaction since the minor breach can be, for instance, a small delay in completing performance or small deficiencies in the quality and quantity of the goods. The remedies are therefore intended only to provide a compensation to the affected party while not taking out the duty to perform from the breaching party. A material breach instead is a failure to perform by one party that causes the aggrieved party to suffer serious damages or losses…
Citation
Gabriele Zini: Green Electrical Energy Storage: Science and Finance for Total Fossil Fuel Substitution. Breach of Contracts and Remedies, Chapter (McGraw-Hill Professional, 2016), AccessEngineering Export