North Carolina Business Courts enact cases of breach of contract in North Carolina only if the loss from it is significant and defeats the very purpose of the agreement.
- The contract should be entered by parties who are legally capable of entering legally enforceable agreements.
- The breach of contract is basically a failure of either of the parties to perform the contract.
- The loss arising from the breach should be material and should cause significant damage to the aggrieved party.
- The court will determine the extent of loss or damage and order for compensation or specific performance as the case may be.