BREACH OF CONTRACT

Violation of any terms or conditions in a contract without legal excuse; for example, failure to make a payment when it is due.

---

A legally enforceable promise or set of promises that must be performed and for which, if a breach of the promise occurs, the law provides a remedy. A contract may be either unilateral, by which only one party is bound to act, or bilateral, by which all parties to the instrument are legally bound to act as prescribed.