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 Oklahoma, a breach of contract occurs when one party fails to fulfill their obligations under a binding agreement, whether the contract is written or verbal. To pursue a breach of contract claim, the aggrieved party must demonstrate that a valid contract existed, that they fulfilled their own contractual obligations or had a valid reason for not doing so, that the other party failed to fulfill their obligations, and that this failure resulted in damages. Oklahoma follows the 'American Rule' regarding attorney fees, meaning each party typically pays their own attorney fees unless the contract provides otherwise or a specific statute applies. The statute of limitations for breach of contract in Oklahoma is five years for written contracts and three years for oral contracts. If successful, the injured party may be entitled to remedies such as compensatory damages, specific performance, or other relief as determined by the court.