So, you made an agreement with your bestie to go to a ballgame this weekend and he or she backed out on the deal? Hey hey, Doris Day...don’t get your panties in a bunch. (If you SERIOUSLY don’t know who Doris Day is, you should bow in shame right now. Better yet, hop on one foot, rub your belly, and shout your apologies at the top of your lungs. We’ll be waiting with a YouTube crew to capture the moment.)
Now let’s get to the fun stuff. Anticipatory breach is a massive legal term for flaking. But not in terms of besties.
It means a party to a contract anticipates a breach, either because it has been made clear that the other party does not intend to comply with the contract, or it has been implied that actions or events will affect the contract. In this event, the party that will be harmed can begin the legal process to have the court determine what the rights of the parties are under the contract (lawsuit, baby, an action for declaratory judgement).
Related or Semi-related Video
Finance: What is a Commitment Letter?5 Views
Finance a la shmoop what is a commitment letter? dear Rebecca it's been fun and
all but asking me to move in with you was a real turnoff so uh have a nice [Rebecca reading letter]
life yeah that would be a fear of commitment letter I know that one well
well so what's a commitment letter then all right well you need dough but you
don't need it today you need it in six months when construction is finished on
your cabin by the lake at that point you'll convert your very expensive
building loan into a normal mortgage well you can go to the bank and for a [Man walks into bank]
small ish fee get a commitment letter from them which stipulates that assuming
nothing material changes between now and then you will in fact then get a loan
for one hundred fifty two thousand dollars at 5 percent fixed interest rate
for 30 years the bank is then committed to giving you that loan when you know [Contract stamped with committed]
eventually you need it that way you don't have to worry about your bank you
know breaking up with you which is nice because it's tough getting
the It's not you it's me speech from a guy in a bowtie [Man wearing bow tie talking to a man in the bank]
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