Breach of contract occurs when one party fails to fulfill their obligations under a legally binding agreement. This can include not delivering goods or services as promised, missing deadlines, not paying as agreed, or violating specific terms. When a breach occurs, the affected party may seek remedies including monetary damages to compensate for losses, specific performance (a court order requiring fulfillment), or contract termination. The severity of consequences depends on whether the breach is minor (a technical violation that can be remedied) or fundamental (going to the heart of the contract). Contract law provides frameworks for resolving these disputes.