# CTE Resource Center - Verso - Business Law Task 1988004021

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Explain the effects of a breach of contract.

Definition

Explanation should include a definition of breach of contract and its consequences (e.g., rescission and restitution, monetary compensation, specific performance). Explanation should also include the main objective of bankruptcy and how it relates to contracts.

Other Related Standards

FBLA Competitive Events and Activities Areas

Business Law

 

NBEA Achievement Standards for Business Law

Analyze and solve difficult ethical and legal problems.

 

Describe breach of contract and the remedies available when a contract is breached.

 

List and explain the remedies of the buyer when the seller breaches the sales contract.

   

List and explain the remedies of the seller when the buyer breaches the sales contract.

   

List the ways a contract can be discharged.