Breach of contract is a cause of action or claim in civil litigation (lawsuits) that provides the legal basis for a person or entity to recover its damages/losses when another person or entity breaches an enforceable written or verbal agreement (contract) by breaking one or more promises in the agreement.
In New York, a breach of contract is recognized as a legal cause of action when one party fails to fulfill their obligations under a binding agreement, whether the contract is written or oral. To successfully claim a breach of contract in a New York court, the plaintiff must typically prove the existence of a contract, the plaintiff's performance or excuse for nonperformance, the defendant's breach of the contract, and resulting damages. The statute of limitations for breach of contract claims in New York is generally six years from the date of the breach for written contracts and six years for oral contracts. If a breach occurs, the non-breaching party is entitled to seek remedies which may include damages, specific performance, or other relief as determined by the court. It's important to note that certain types of contracts in New York may be subject to specific statutes and regulations that can affect the enforcement and interpretation of the contract.