What is anticipatory repudiation?

Anticipatory repudiation is a concept in contract law that occurs when one party to a contract indicates that they will not fulfill the obligations of the contract before the time for performance has arrived. This can be done explicitly by saying that they do not intend to fulfill the contract, or implicitly by taking action that shows they will not fulfill the contract. This can also happen when one of the parties delays performance of the contract for an unreasonable amount of time. In Virginia, an anticipatory repudiation of a contract can be used as a defense to breach of contract claims, meaning that if one party has repudiated the contract, then the other party can no longer be held legally responsible for not fulfilling the contract. If a party repudiates the contract, the other party may be able to sue for damages, but they may also choose to terminate the contract and seek other remedies.

Related FAQs

What is the effect of a modification of a contract?
What is a promissory estoppel?
What is the standard of care in a contract?
What is the interpretation of a contract?
What is a creditors’ rights clause?
What is controverting the evidence?
What is the parol evidence rule?
What is a durable power of attorney?
What is a declaratory judgment?
What is an executory contract?

Related Blog Posts

What Every Business Should Know About Contract Law - July 31, 2023
Understanding Contract Enforceability - Key Considerations - August 7, 2023
Drafting an Enforceable Contract: Best Practices - August 14, 2023
Creating an Effective Contract: Tips and Tools - August 21, 2023
Negotiation Strategies for Contract Law - August 28, 2023