In business, contracts are the foundation of trust between parties involved in a transaction. Contracts are legally binding agreements that spell out each party`s obligations and requirements and what happens if one party fails to fulfill their contractual obligations. However, sometimes one party may not perform their duties as outlined in the contract, leading to what is known as non-performance of contractual obligations.
Non-performance of contractual obligations occurs when one party fails to fulfill their side of the deal as outlined in the contract. This can happen for various reasons, including lack of resources, inability to meet deadlines, or disagreement on the terms of the contract.
When non-performance of contractual obligations happens, it can have serious conse...
Daugiau