What constitutes a "breach of contract"?

A breach of contract occurs when one party fails to fulfill any of the agreed-upon terms outlined in the contract. This could include not performing duties at the designated time, failing to deliver goods or services, or not adhering to the conditions stipulated within the agreement. Essentially, it is the failure to uphold one's part of the contract, resulting in potential legal ramifications or the right for the non-breaching party to seek remedies.

The other choices do not define a breach of contract. A mutual agreement that is enforced by law describes what a contract is rather than what constitutes a breach. A dispute over the terms of a contract refers to conflicts that may arise during the execution of the contract but does not imply that a breach has occurred. A modification of an existing contract involves changing the terms of the contract but is not related to failing to meet those terms. Thus, the definition of breach is accurately captured by the selection that identifies the failure to perform any term of a contract.