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What are the responsibilities for fundamental breach of contract

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What are the responsibilities for fundamental breach of contract


        

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  • 2024-06-09 00:00:01

    The responsibilities for fundamental breach of contract include: 1. The observant party has the right to terminate the contract; 2. The breaching party shall compensate the other party for the losses incurred therefrom; 3. If the contract stipulates other liabilities for breach of contract, the breaching party shall bear corresponding liabilities according to the contract. According to Article 577 of the Civil Code, if a party fails to perform its contractual obligations or fails to perform its contractual obligations in accordance with the agreement, it shall be liable for breach of contract by continuing to perform, taking remedial measures or compensating for losses. Article 584 provides that if a party fails to perform its contractual obligations or fails to perform its contractual obligations in accordance with the contract, thereby causing losses to the other party, the amount of damages shall be equal to the losses caused by the breach of contract, including the benefits that can be obtained after the performance of the contract; However, it shall not exceed the possible losses caused by the breach of contract that the breaching party foresaw or should have foreseen when concluding the contract. Legal basis: Article 577 of the Civil Code, if a party fails to perform its contractual obligations or fails to perform its contractual obligations in accordance with the agreement, it shall be liable for breach of contract by continuing to perform, taking remedial measures or compensating for losses. Article 584 Where a party failed to perform its contractual obligations or rendered non-conforming performance, thereby causing losses to the other party, the amount of damages shall be equal to the losses caused by the breach of contract, including the benefits that may be obtained after the performance of the contract; However, it shall not exceed the possible losses caused by the breach of contract that the breaching party foresaw or should have foreseen when concluding the contract.

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