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If One Party Repudiates a Contract Before the Time of Performance

question 65

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If one party repudiates a contract before the time of performance, the injured party may sue for anticipatory breach of contract.


Definitions:

Terminated

The condition of being brought to an end or concluded, often referring to contracts, employment, or agreements.

Insolvency

The state of being unable to pay debts as they fall due or having liabilities exceed assets.

Principal

The party that an agent’s authority can bind or act on behalf of.

Agent

An individual authorized to act on behalf of another, known as the principal, in legal or business matters.

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