ACTG 2P40 Study Guide - Fundamental Breach, Breach (Security Exploit)
Document Summary
Breach of contract effect of a breach. All prior topics are basically equity remedies for when a contract is impeached. Breach of term = breach of contract. Terms divide into 2 separate categories: degrees of breach ( 2 different types of terms to breach ) (a) minor breach ( breach of warranty less important ) Some terms are less important than other terms in a contract. A minor breach can happen in 2 ways: a breach of a non-essential term of a contract, a breach of an essential term of a contract in a minor respect. A minor breach will only allow the aggrieved party to sue for breach of contract to get damages and does not give the aggrieved party the right to terminate the contract ( end the contract ) In most cases the party will take option 2) because the party will not have any other choice or option ( lack of other suppliers )
