Breach of Contract Missouri: Everything You Need to Know
To have a breach of contract Missouri situation is the result of one party failing to complete any part of an agreed upon contract without a legal excuse.3 min read
What Is Involved in a Breach of Contract?
There are reasons why one party would not fulfill the terms of an agreed-upon contract. Unexpected situations are one example. These can include financial issues, delivery of goods, delays, refusal to complete the services, or failure to pay the amount agreed upon in a timely manner.
Under contract law, a breach occurs when a party has the absolute responsibility to perform and the responsibility/duty is not completed in accordance with the terms of the contract. The non-breaching party must be able and willing to perform the terms of the contract.
Essentials Necessary to File a Breach of Contract
To take action with a breach of contract, several essential elements are necessary. These are:
- A contract and terms are in existence.
- The plaintiff performed or tendered performance pursuant to the contract.
- There has been a breach of contract by the defendant.
- The plaintiff has suffered damages.
When one party claims a breach of contract by another, a judge must answer the following questions:
- Was a contract in existence?
- What were the requirements of each party involved with the contract?
- Had the contract been subjected to modifications at any point?
- Did the claim that a breach of contract occurred take place?
- If a breach of contract did occur, was the breach material to the contract?
- Does the breaching party have a legal defense to the enforcement of the contract?
- What were the damages caused by the breach?
In the event of a contract being breached, the non-breaching party may ask that the court award damages. This is usually in the form of monetary compensation.
Damages may include compensatory or liquidated. Compensatory damages provide a party with a monetary amount that will cover and replace what was lost due to the breach of contract by the other party. Liquidated damages are those that are specified in a contract in the event of a breach of contract.