The process whereby a party is made aware of the commencement of legal proceedings affecting their rights, obligations or duties.
Although the format may vary, there are strict requirements regarding service of a legal notice which must be adhered to if the legal notice to be effective.
Sometimes known as a repudiatory breach, is a breach of an essential part of a contract that it permits the distressed party to terminate performance of the contract, in addition to entitling that party to sue for damages.
A breach of contract that is so fundamental that it permits the injured party to terminate the performance of the contract, in addition to entitling that party to sue for damages.
Significant enough substantial failure in the performance of a contract, as to give the affected party the right to sue for damages as well as release the aggrieved party from its obligations.
2014/05/12
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