A breach of contract in which the breaching party finds it cheaper to pay damages than to perform under the contract. In other words, a type of contractual breach that is economically efficient, at least for the breaching party.
wex:
A breach of contract in which the breaching party finds it cheaper to pay damages than to perform under the contract. In other words, a type of contractual breach that is economically efficient, at least for the breaching party.