Anticipatory breach involves breaking a contract before the actual time of required performance. It occurs when one party repudiates their contractual obligation beforehand by indicating that they will not or cannot fulfill their contractual duties.
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.
Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.