What constitutes a "breach of contract"?

A breach of contract occurs when one party fails to fulfill the terms and conditions outlined in the agreement. This can include not performing duties as specified, missing deadlines, or failing to meet any other obligations that were mutually agreed upon. Essentially, a breach indicates that one or both parties did not uphold their end of the deal, which can lead to legal consequences or the aggrieved party seeking remedies, such as damages or specific performance.

The other choices do not accurately define a breach. A mutual agreement to cancel the contract indicates that both parties have decided to terminate their contractual obligations, which is a valid and separate action from a breach. A disagreement between parties does not inherently mean there has been a failure to adhere to the contract terms; it could stem from differing interpretations or negotiations. A change in the property's value is not related to the fulfillment of contract terms but rather reflects market conditions, and it does not constitute a breach unless it directly affects the specific obligations outlined in the contract.