About This Chapter
Who's it for?
Anyone who needs help learning or mastering college business material will benefit from taking this course. There is no faster or easier way to learn college business topics. Among those who would benefit are:
- Students who have fallen behind in understanding breach of contract types or working with the circumstances of contract breach
- Students who struggle with learning disabilities or learning differences, including autism and ADHD
- Students who prefer multiple ways of learning business content (visual or auditory)
- Students who have missed class time and need to catch up
- Students who need an efficient way to learn about breach of contract
- Students who struggle to understand their teachers
- Students who attend schools without extra business learning resources
How it works:
- Find videos in our course that cover what you need to learn or review.
- Press play and watch the video lesson.
- Refer to the video transcripts to reinforce your learning.
- Test your understanding of each lesson with short quizzes.
- Verify you're ready by completing the Contracts: Breach of Contract chapter exam.
Why it works:
- Study Efficiently: Skip what you know, review what you don't.
- Retain What You Learn: Engaging animations and real-life examples make topics easy to grasp.
- Be Ready on Test Day: Use the Contracts: Breach of Contract chapter exam to be prepared.
- Get Extra Support: Ask our subject-matter experts any breach of contract question. They're here to help!
- Study With Flexibility: Watch videos on any web-ready device.
Students will review:
This chapter helps students review the concepts in a Breach of Contract unit of a standard college business course. Topics covered include:
- Types of breach of contract and the circumstances
- Remedies for breach of contract
- Non-recoverable damages and liquidated damages
- Duress and undue influence in contract
- Defenses to contract enforcement
1. Circumstances of Contract Breach: Anticipatory Repudiation & Demand for Assurances
A contract is a form of agreement that is legally binding. Sometimes, a contracting party suspects that the other party will fail to uphold his or her end of the deal. In these cases, there are certain legal procedures a party can use to better secure the contract. This lesson explains anticipatory repudiation and demand for assurances.
2. Remedies for Breach of Contract: Formula for Expectation Damages
When a party breaches a contract, a court will often award damages to the other party. Expectation damages are a common form of legal remedy for a breach of contract. This lesson explains expectation damages, and the formula for calculating expectation damages.
3. Specific Performance and Injunctions: Remedies for Breach of Contract
When a party breaches a contract, a court will usually award money damages to the innocent party. But there are other types of remedies. Equitable remedies are different than monetary damages. This lesson explains specific performance and injunctions, which are equitable remedies.
4. Contract Breach Remedies: Reliance & Restitution
When a party breaches a contract, a court will often award damages to the other party. There are several different types of damages. The type of damages awarded will depend on the circumstances of the case. This lesson explains when reliance damages and restitution might be used.
5. Non-Recoverable Damages: Damages Due to Breach of Contract
A money damage award is the most common remedy for a breach of contract. However, there are several limitations on money damage awards. This lesson discusses items that aren't recoverable, or won't usually be included, in a damage award.
6. Liquidated Damages: Damages Due to Breach of Contract
When a breach of contract occurs, there are several different types of money damages that might be awarded to the innocent party. Liquidated damages are a predetermined form of money damage award. This lesson explains the use of liquidated damages.
7. Duress and Undue Influence in Contract Enforcement
Contracts must be entered into freely by both of the parties and include mutual assent. Sometimes mutual assent can be affected by coercion or pressure to enter the contract. Duress and undue influence are situations that affect mutual assent and make a contract void or voidable. This lesson explains duress and undue influence in contract formation.
8. Contract Enforcement: Misrepresentation & Fraud
A contract won't be enforced if it's based on fraud or misrepresentation. These are civil causes of action regarding the formation of a contract. Both of these causes of action involve a statement of facts that is untrue. This lesson explains fraud and misrepresentation in contract formation, and takes a look at a case example.
9. Defenses to Contract Enforcement: Mistakes
A valid and legally enforceable contract requires a meeting of the minds. Sometimes there isn't a meeting of the minds due to a mistake by one or both parties. This lesson explains the different types of contract mistakes, and the remedies available.
10. Defenses to Contract Enforcement: Unconscionability & Statute of Limitations
Sometimes a party has a defense to a contract. A contract defense is a valid and legal reason for why the contract can't be enforced. This lesson explains unconscionability and statute of limitations. These are both defenses to the enforcement of a contract.
11. Compensatory Damages: Definition & Example
After you complete this lesson, you will understand what constitutes compensatory damages. Moreover, you will review several examples in order to obtain a greater understanding of compensatory damages.
12. Consequential Damages: Definition, Clause & Examples
In this lesson, you'll learn what constitutes consequential damages. You'll also review a typical consequential damages clause and analyze an example.
Earning College Credit
Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Other chapters within the Business Law: Help and Review course
- History of American Law: Help and Review
- Sources of Law: Help and Review
- Constitutional Law: Help and Review
- American Legal Systems: Help and Review
- Legal Procedures: Help and Review
- Contract Law Basics: Help and Review
- Capacity in Contract Law: Help and Review
- Contract Law and Third Party Beneficiaries: Help and Review
- Contracts - Assignment and Delegation: Help and Review
- Contracts - Statute of Frauds: Help and Review
- Contracts - Scopes and Meanings: Help and Review
- Contracts - Discharge of Contracts: Help and Review
- The Legal Environment: Help and Review
- Securities and Antitrust Law: Help and Review
- Property Law: Help and Review
- Employment and Labor Law: Help and Review
- Creditors' Rights: Help and Review
- Product Liability and Consumer Protection: Help and Review
- International Business Law: Help and Review
- Torts in Business Law: Help and Review
- The Role of Agency in Business Law: Help and Review
- Types of Business Organizations: Help and Review
- Sales & the Law: Help and Review
- Small Business Employment Law
- Consumer Protection
- Essentials of Contract Law
- Moral Philosophies & Business Ethics
- Antitrust Laws in Business
- International Trade & Business Law