The failure, without legal excuse, to fulfill a contractual promise.

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Study for the Chartered Property Casualty Underwriter 530 Exam with flashcards and multiple choice questions. Each question has hints and explanations to enhance your understanding and prepare you thoroughly.

Multiple Choice

The failure, without legal excuse, to fulfill a contractual promise.

Explanation:
A breach of contract occurs when one party fails, without a legal excuse, to perform a promise made in a contract. The contract is simply the agreement itself, while standing to sue concerns who has the right to bring a claim, and a final order is a court’s ruling. The term that best describes the act of not fulfilling the promise is breach of contract, which can be either material or minor depending on the extent of nonperformance.

A breach of contract occurs when one party fails, without a legal excuse, to perform a promise made in a contract. The contract is simply the agreement itself, while standing to sue concerns who has the right to bring a claim, and a final order is a court’s ruling. The term that best describes the act of not fulfilling the promise is breach of contract, which can be either material or minor depending on the extent of nonperformance.

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