This refers to when one of the parties in the contract has failed to satisfy an agreed-upon promise, discharge an obligation, or perform certain acts. In a real estate contract, its not a crime to be in default. But, the party that is in default can be sued for the damages they may have caused due to defaulting.
Default
This refers to when one of the parties in the contract has failed to satisfy an agreed-upon promise, discharge an obligation, or perform certain acts. In a real estate contract, its not a crime to be in default. But, the party that is in default can be sued for the damages they may have caused due to defaulting.
