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Breach Of Warranty
Occurs when one party fails to uphold a promise, claim, or assurance made under a warranty within a contract, which may result in legal action but does not typically nullify the agreement.
Breach Of Condition
A violation of a specific condition in a contract that justifies the non-breaching party to terminate the contract and seek compensation.
Implied Repudiation
A situation where one party’s actions or inactions signal a refusal to fulfill their contractual obligations, suggesting an intention to breach the contract despite no explicit declaration.
Express Repudiation
The clear and unequivocal refusal to honor a contract or agreement, effectively declaring one's intention not to perform their contractual obligations.
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