Fundamental Breach

Breach of Contract
A breach of contract occurs when a party fails to fulfill obligations under a legally binding agreement or indicates an intention not to do so. It can result in remedies like damages, injunctions, or specific performance.
Repudiation
Repudiation refers to the refusal by one party to fulfill their contractual obligations, signaling an intention to withdraw from the contract.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.