Explain what may constitute a material breach and list the several basic principles that must be applied to determine if a material breach exists in a given contract.

In general, a material breach is defined as an unjustified failure to perform substantially the obligations promised in a contract. The following is a list of general principles that apply in determining whether a breach is material:
a. Partial performance is a material breach if it omits some essential part of the contract.
b. A breach is material if it is quantitatively or qualitatively serious.
c. An intentional breach of contract is generally held to be material.
d. If time is of the essence, a failure to perform at the contracted time is material.
e. Parties to a contract may, within limits, specify what breaches are to be considered material.