Section 59.1-507.1 determines whether a party is eligible to be treated under breach of contract.
- A breach of contract is when a party fails to perform his promise without a legally acceptable reason.
- A breach of contract when there is a non-performance of a promise agreed in the contract which seriously repudiates the rights of the other party.
- The breach is said to be material if it causes serious damage to the aggrieved party.
- The aggrieved party can claim for damages from the non-performing party in the form of financial compensation or actual performance.