A breach of contract occurs when a party fails to fulfill their obligations as specified in the agreement. This can include non-performance, substandard performance, or actions indicating an intent not to perform.

Available remedies include:

• Damages: Monetary compensation for losses incurred.
• Specific Performance: A court order compelling the breaching party to fulfill their contractual duties.
• Injunction: A court order preventing a party from performing a specific act.
• Rescission: Termination of the contract, releasing all parties from further obligations.

In Victoria, the limitation period for breach of contract claims is six years from the date the breach occurred. For contracts executed as deeds, this period extends to 15 years. Initiating legal action after these periods may result in the claim being time-barred.

To establish a breach of contract claim, the plaintiff must demonstrate:

• Existence of a Valid Contract: A legally binding agreement between the parties.
• Breach of Terms: Failure by the defendant to perform contractual obligations.
• Damages: The plaintiff suffered losses as a direct result of the breach.

Yes, an anticipatory breach occurs when one party indicates, through words or actions, an intention not to fulfill their contractual obligations before the performance is due. The non-breaching party may treat this as an immediate breach and seek remedies accordingly.

Liquidated damages are a predetermined sum specified within the contract, agreed upon by both parties, to be paid in the event of a breach. They serve as a genuine estimate of potential losses and provide certainty regarding compensation.

Frustration occurs when unforeseen events render contractual obligations impossible to perform or fundamentally change the contract's nature, without fault from either party. In such cases, the contract may be terminated, and parties are discharged from further obligations. This differs from a breach, where a party fails to perform as agreed.

Specific performance is an equitable remedy where the court orders the breaching party to fulfill their contractual obligations, rather than awarding monetary damages. It is typically granted when damages are insufficient to remedy the breach, such as in contracts involving unique goods or property.

Yes, contracts can contain limitation of liability clauses that cap the amount recoverable for breaches. However, such clauses must be clear, unambiguous, and not contravene statutory provisions or public policy to be enforceable.

The non-breaching party has a duty to mitigate, or minimize, their losses resulting from the breach. This means taking reasonable steps to reduce the impact of the breach. Failure to do so can limit the damages recoverable in a claim.