Question: For termination for default situations, should the right to terminate a contract be limited to when a material or substantial breach occurs or should it
For termination for default situations, should the right to terminate a contract be limited to when a material or substantial breach occurs or should it be available no matter how small the breach is - since the contract was breached and the innocent party is not getting the full benefit of his/her bargain? Should we expect small breaches in every contract? Is that the norm? Is broadening the right to terminate good for business and enforcement of contracts? Why or why not? In answering, consider and explain the benefits and risks of each.?
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