What is an opportunity to cure a breach of contract?

In Oregon, an opportunity to cure a breach of contract is when either party can correct a mistake that was made with respect to the agreement. This can include not meeting a deadline, not fulfilling a promise, or not performing a certain task. This gives both parties a chance to remedy the situation without further legal action or more serious consequences. For example, if in a residential real estate contract the buyer fails to make a payment by a certain date, the seller has an opportunity to cure the breach of agreement by giving the buyer a grace period before further action is taken. The grace period is usually a certain number of days in which the buyer can make the payment. Another example is if the seller does not meet the agreement in regards to completing repairs or making a particular improvement to the property. The buyer has an opportunity to cure the breach of contract by giving the seller a certain amount of time in which to complete the repairs or improvements. In order to avoid legal action and further consequences, it is important for both parties to take advantage of the opportunity to cure a breach of contract. If an agreement is not being met, they should work together to find a satisfactory solution. Doing so can avoid unnecessary worry, time, and money.

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