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What is Contract?
The objective of a contract is to solemnize an agreement on a certain subject matter between two or more parties. Often contracts are for employment, sale and purchase of the real estate, commercial transactions, construction, lease and more.
What is Breach of Contract?
A contract binds the parties to perform the contractual obligations, and any failure to adhere to those obligations is considered as Breach of Contract in UAE and any other country around the globe. It is quite certain that Breach of Contract in UAE is one of the most confounding issues under the Contract Law, which concerns the solutions available to the suffering party under Breach of Contract.
Yet, it is arduous to discuss such issues as laws regulating Breach of Contract in UAE is dispersed in several legislations suggesting different solutions to many similar problems. In such events, it is inevitable to find fault of the opposing party to establish the claim for Breach of Contract and to search for similar legal jargons to resolve issues which may or may not be similar.
The Laws – Breach of Contract in the UAE
The laws and regulations which have been developed for issues related to Breach of Contract is impressive and yet, confusing. Having said that, it is pertinent for the claimant to evaluate the kind of Breach in the Contract and ascertain the rationale behind such failure of adhering with one’s contractual obligations.
Breach of Contract can be fundamental or substantial or based on a condition precedent or other issues depriving the opposing party to perform his/her obligation under the contract resulting in Breach of Contract. Most likely this sort of investigation shall be conducted while keeping in mind the language of similar pertinent cases and legal statutes governing Breach of Contract in UAE. The results of a Breach of Contract fluctuate and are reliant on which party has failed to abide by its obligations. Practically, the gravity of the breach directly impact its consequences which are usually compensation for the loss, interest for the delay in performing, reduction of contract value or to remedy the deformity. It is just conceivable to terminate the contract when the Breach of the Contract is quite significant and is beyond repair.
Know your legal rights on Breach of Contract in UAE!
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