Alike other states of the USA, South Carolina also has laws that address breach of contract.
Breach of contract
A breach of contract refers to an action that violates the terms of a contract or does not fulfill of a promise or performed accordingly as agreed upon in the agreement.
- The damages arising from the breach of contract are referred as economic losses.
- The defaulting party is required to compensate the other party to the contract by paying general damages or completing specific performance of the contract.
- The specific performance should in line with the original promise as made in the contract.
Timeframe to file petition
According to South Carolina breach of contract laws, the non-breaching party can file petition for the remedy of breach of contract within 3 years of finding about breach of contract.
In South Carolina, it shouldn’t be considered as a breach of contract if
- There is any changes in the contract and both parties agree to it.
- One party deviates from the contract and other party agrees to it.
NOTE: For clear and better understanding of South Carolina breach of contract laws, it is suggested to talk to an experienced lawyer.