Breach and Remedies

Free CPA REG (Taxation & Regulation) lesson in Business Law. 15 min read, ~2,236 words.

Material breach excuses performance and unlocks total damages plus cancellation. Partial breach does not; keep performing and sue for the loss. Substantial performance lets a good-faith breaching party recover contract price minus cost to cure or diminution in value; willful breach loses this protection. Anticipatory repudiation is an unequivocal refusal...