BREACH OF CONTRACT Definition

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BREACH OF CONTRACT is the failure to perform provisions of a contract.

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EXERCISE, in business or law, to make use of a right available in a legally binding agreement, e.g. to implement the right of the holder of an option to buy (in the case of a call) or sell (in the case of a put) the underlying security.

BAD DEBT EXPENSE see UNCOLLECTIBLE ACCOUNT EXPENSE.

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