What is a breach of contract?

A breach of contract is when one of the parties involved in a contract does not fulfill their part of the agreement. This can be legally referred to as a "breach" of contract. In Tennessee, a breach of contract has both legal and economic consequences. When a party fails to fulfill their part of an agreement, this is considered a breach of contract. When this happens, the other party that is entitled to the full performance of the contract can choose to file a lawsuit against the other party. The non-breaching party can then choose to sue for damages or to seek an equitable remedy. Damages are essentially a payment from one party to another to cover the losses that the breaching party has caused. An equitable remedy is something such as an injunction that prevents the breaching party from continuing to violate the contract. In Tennessee, a breach of contract is a serious legal issue and the consequences can be severe if the other party chooses to file a lawsuit against the breaching party. Therefore, it is important that both parties understand all the terms and conditions of a contract before signing it. Additionally, both parties should make sure that they are fulfilling their obligations under the contract in order to avoid the possibility of a breach of contract.

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