Breach of Contract – Response Essay

Response Essay- Breach of Contract

Responsive entries such as, “I agree,” or “Good Point!” will receive no credit. In order to receive credit for the discussions, you must present your argument – and responsive arguments . Based upon what you have learned from your reading, research, and lecture. Textbook: Textbook: Twomey & Jennings, Anderson’s Business Law and The Legal Environment (23rd Ed. 2017), ISBN: 978-1-305-57508-0. Chapters 14, 15, 19, 32 (only 32-1), 36 (only 36-1a), 37 (only 37-3), and 39 (do NOT read 39-4). Please respond below: ISSUE – Does Anthony the seller who has failed to deliver a painting to Laura the buyer. Have to pay liquidated damages in the amount of 5000 dollars according to the terms in Anthony’s written contract? RULE –Breach of contract: A legal cause of action when an agreement binding two or more parties is not honored by one or more parties.

Liquidated damages: The amount of money that both parties in a contract agree upon if a breach of contract occurs. Also legal action arises as a result of the contract breach. Material breach: Failure to perform one’s duties as set in the contract. Uniform Commercial Code: Laws applying to all entrepreneurs and small businesses in all 50 states, and covers situations such as recording. In addition legalizing, and administering contracts. ANALYSIS – When Anthony drew up a written contract to guarantee a sale to Laura, he then became legally obligated to fulfill those terms agreed upon. The terms were that he would pay $5000 of liquidated damages if he didn’t deliver his end of the contract. Wherefore, the moment Anthony failed to deliver his part of the contract by not delivering the painting for Laura to buy was a breach of contract.

Further Description

In this scenario, Laura had the right to sue Anthony for  a breach of contract. Also a material breach for the fact that he failed to fulfill his part of the contract. Because the contract had an agreement upon if a breach of contract occurs, liquidated damages of $5000 dollars can be claimed by Laura.  Uniform Commercial Code applies to all entrepreneurs and small businesses in all 50 states. It also covers situations such as recording, legalizing, and administering contracts. CONCLUSION – In conclusion, within the publication of the Uniform Commercial Code, Laura had the legal right to pursue liquidated damages in accordance with the rules of breaching a contract.

The pursuit of suing Anthony for breach of contract was in accordance with proving there was a contract with agreed terms and that those terms were broken due to the fact he failed to deliver his end of the contract. The result of his failure to adhere to his written contract, commits him to pay the agreed amount of liquidated damages to Laura.

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