Problem
Breach of contract
Other Names:
Risk of breach of contractBreach of agreement
Violation of agreements
Nature:
Violations of agreements either to provide goods or services, or to compensate for them, occur in numerous ways. A binding written agreement, that is, a contract with legal force, stipulates the terms of the transaction which may be between private individuals or organizations, or between either and public agencies of government. Violations or breaches of contract provisions are one of the most frequent causes of legal actions. Any business transaction, therefore, involving contractual obligations, can be tainted with suspicion, if not apprehension, that breach is all too likely. This increases the rigidity of contract terms and increases interest rates to cover risk, which adds to the cost of doing business.
Broader Problems:
RiskViolations of contract law Narrower Problems:
Frozen contractsUnfulfilled contractsFailure to implement collective agreements on workers wage increases Related Problems:
Financial risk Aggravates:
Risk of capital investment Subject(s):
Law → AgreementsSocietal Problems → Hazards
Societal Problems → Maltreatment
Related UN Sustainable Development Goals:
Problem Type:
E: Emanations of other problems Date of last update
04.10.2020 – 22:48 CEST