Full question:
If I signed a contact with a construction company and in their own contract one of the terms is they collect 10% upon signing and do not do so - did they breach the terms of their own contract?
- Category: Contracts
- Date:
- State: Arizona
Answer:
A breach of contract occurs when one party fails to perform their obligations under the agreement. In this case, if the construction company's contract states they are to collect a 10% deposit upon signing and they did not do so, this may constitute a breach of their own contract.
However, a party can choose to waive certain terms of a contract. A waiver means they intentionally give up a known right or obligation. If the construction company intentionally chose not to collect the deposit, it may be seen as a waiver of that term. This waiver would not void the contract unless it involves a crucial term, such as payment, performance timelines, or the scope of work.
In general, contracts are legally enforceable agreements that outline the rights and duties of the parties involved. If one party fails to meet their obligations, the other party may seek remedies such as money damages, restitution, or specific performance, depending on the situation.
If you believe the failure to collect the deposit has caused you harm, you may want to consult a legal professional to discuss your options.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.